What is Central Provident Fund (CPF)?
What is CPF - Central Provident Fund?
The Central Provident Fund (CPF) is the government's social security plan provided to working Singaporean citizens and permanent residents to give security and confidence for their retirement years.
As an employer, you need to make CPF contributions to your employees regardless full-time or part-time workers. Please check for more details in Who do you need to pay CPF for.
Steps to calculate CPF contribution
- Identify your employees
- Find out which wage payments attract CPF contributions
- Classify wages as ordinary wages (OW) and additional wages (AW)
- Apply the CPF contribution rate.
Please find more details of each steps here.