CPF contribution rates are applied differently for your employees. This depends on his/her:
- Citizenship – Singapore Citizen; or Singapore PR (SPR) in the 1st and 2nd year or from the 3rd year of obtaining SPR status;
- Age group
- Total wages for the calendar month.
For Singapore Citizen's and SPR's CPF contribution rate, head over to CPF website for more details.
How to ensure that CPF contribution is calculated correctly in Talenox?
In the employee's profile, please ensure that you complete the following fields accurately:
1. Employee's Date of Birth (this is to determine the employee's correct age group)
2. Employee's Immigration Status
If Singapore PR option is selected, do ensure that PR Effective Date and PR Status fields are entered correctly too.
Once the above details are completed, you can begin your payroll processing for the month. 😎