CENTRAL PROVIDENT FUND (CPF) & SKILLS DEVELOPMENT LEVY (SDL)
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CENTRAL PROVIDENT
FUND (CPF) & SKILLS
DEVELOPMENT LEVY (SDL)
Copyright © 2020 In.Corp Global Pte Ltd. All rights reserved. Last updated Feb 2020 | 1
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Singapore Central Provident Funds
(CPF) Rates
The Central Provident Fund or CPF is a compulsory pension fund scheme
in which the employer and employee contribute a percentage of the monthly
salary to the fund. CPF contribution by the employer is mandatory for all local
employees who are Singapore Citizens or Permanent Residents earning more
than S$50 a month. The maximum CPF contribution rate for employers and
employees is 17% and 20% respectively and can be lower depending on certain
factors such as employee age and permanent resident status. Employment
pass holders do not have to contribute to CPF.
3rd year onwards PR and
1st year PR 2nd year PR
Singapore citizen
Graduated Employer & With effect from
Employee Rates 1 Jan 2016
(A) Employees age 50 years and below
Employee 5.00% 15.00% 20.00%
Employer 4.00% 9.00% 17.00%
Total 9.00% 24.00% 37.00%
(B) Employees age above 50 to 55 years
Employee 5.00% 15.00% 20.00%
Employer 4.00% 9.00% 17.00%
Total 9.00% 24.00% 37.00%
(C) Employees age above 55 to 60 years
Employee 5.00% 12.50% 13.00%
Employer 4.00% 6.00% 13.00%
Total 9.00% 18.50% 26.00%
(D) Employees age above 60 to 65 years
Employee 5.00% 7.50% 7.50%
Employer 3.50% 3.50% 9.00%
Total 8.50% 11.00% 16.50%
(E) Employees age above 65 years
Employee 5.00% 5.00% 5.00%
Employer 3.50% 3.50% 7.50%
Total 8.50% 8.50% 12.50%
* Based on a base salary of $1,000 per month
Copyright © 2020 In.Corp Global Pte Ltd. All rights reserved. Last updated Feb 2020 | 2Skills Development Levy (SDL) Rates
All companies required to contribute a fee to the skills development fund. SDL contribution is payable by
employers for all employees up to the first $4,500 of each employee’s total monthly wages at a levy rate of 0.25%
or a minimum of $2 (for total wages of $800 or less), whichever is higher.
GROSS MONTHLY
WORKER SDL PAYABLE REMARKS
REMUNERATION
A $609.50 $2.00 Minimum of $2 is payable
B $2,000.00 $5.00 0.25% levy
C $4,500.00 $11.25 0.25% levy
D $4,502.03 $11.25 First $4,500 levied at 0.25%
E $10,000.00 $11.25 First $4,500 levied at 0.25%
Copyright © 2020 In.Corp Global Pte Ltd. All rights reserved. Last updated Feb 2020 | 3PAYROLL
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Covers all major HR process of your
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Copyright © 2020 In.Corp Global Pte Ltd. All rights reserved. Last updated Feb 2020 | 5IN.CORP GLOBAL PTE LTD
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The information contained herein is intended for general information
purposes only and shall not be regarded as professional advice. Readers are
therefore advised that before acting on any matter arising from these notes,
they should discuss their particular situation with the Firm. No liability can
be accepted for any action taken as result of reading the notes without prior
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Copyright © 2020 In.Corp Global Pte Ltd. All rights reserved. Last updated Feb 2020 | 6You can also read
