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ExpatSingapore Message Board 27 May 2012, 15:02:50 pm *
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Author Topic: CPF contribution  (Read 12007 times)
With due
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« Reply #30 on: 28 July 2008, 23:56:52 pm »
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respect. Even Mr Porky knows that.  Grin

He didn't say otherwise
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ExpatSingapore Message Board
« Reply #30 on: 28 July 2008, 23:56:52 pm »
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IntoxInc
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« Reply #31 on: 29 July 2008, 9:00:25 am »
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The cap is on CPF amount, not on salary. So, this $4500 is the maximum CPF amount (cap) and not the salary cap figure.

You are wrong my friend.
At its full contribution rate of 20% (only applicabe after 2 years of being a PR) CPF is applicable to only the first $4500 dollars from your monthly salary and that comes to $900/month. Usually there is a $5-$10 dollar charity deduction along with it. 
So if your gross monthly income is $17000 dollars, then your take home nett income should still be around $16090 dollars. Hope this helps.

Contribution Rates for PRs are generally as follows (it may be different for some age brackets):
Starting contribution after grant of PR: Employee 5%, Employer 3%
Contribution after 1 year of being PR: Employee 15%, Employer 8%
Contribution after 2 years of being PR: Employee 20%, Employer 14.5%

Once again, it is all applicable only to the first $4500 from your monthly salary.
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S   I   G   N   A   T   U   R   E
Confused.
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« Reply #32 on: 29 July 2008, 9:09:03 am »
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Isn't that what he meant? Porky too?

No harm in making it crystal I guess.
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NOOO
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« Reply #33 on: 29 July 2008, 13:04:16 pm »
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I was wrong! Mr. Porky was correct. There is another salary cap of $6000 for some other category of employees and I overlooked this.
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lala1971
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« Reply #34 on: 18 October 2008, 20:38:58 pm »
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So in my situation I get 4,000 in basic salary and 2,000 in housing allowance, does this mean that when i get the pr next month, that the first year i pay a 5% amount over the 6,000 SGD total?
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