There are several CPF rates for Singapore permanent residence (SPR). In Swingvy there is a way to maintain the relevant rate for SPR employee
To update the employee as a PR status
Admin can set the PR status of the employee by following below steps
Step 1 - Click the employee name at the Payroll > People tab
Step 2 - Select the residence type as Singapore PR
Step 3 - Set the PR effective date
Step 4 - Click save
To maintain CPF rate for Singapore PR
There are 3 rates of CPF for Singapore PR, graduate employee&employer, graduate employee & full employer, Full employee & employer.
- G/G employee&employer
- For first year employee 5% employer 4%
- For 2nd year employee 15% employer 9%
- 3rd year onwards Full rate applied to both employee and employer
- G employee / Full employer
- 1st year employee 5 % employer 17%
- 2nd year 15% employee 17% employer
- 3rd year onwards full rate applied to both employee and employer
- F/F employee&employer
Swingvy will automatically detect the length of employee’s PR status based on the PR effective date during the payroll calculation.