CPF contribution rate for Singapore permanent residence (SPR)

There are several CPF rates for Singapore permanent residence (SPR). In Swingvy there is a way to maintain the relevant rate for SPR employee.

Update the employee as a PR status 

Admin can set the PR status of the employee by following the 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

Swingvy tip:
Swingvy will automatically detect the length of employees’ Singapore PR status based on the PR effective date during the payroll calculation

Maintain the CPF rate for Singapore PR

There are 3 rates of CPF for Singapore PR:

  1. Graduate employer & employee (G/G)
  2. Full employer & graduate employee (F/G)
  3. Full employer & full employee (F/F) 

There is an upper cap of CPF contribution rate for employee 55 years & below (from 1 Jan 2016): 

Types of Singapore PR First-year Second-year
Employer contribution rate Employee contribution rate Employer contribution rate Employee contribution rate
Graduate employer & employee (G/G)   4% 5% 9% 15%
Max of $240 Max of $300 Max of $540 Max of $900
Full employer & graduate employee (F/G)   17% 5% 17% 15%
Max of $1,020 Max of $300 Max of $1,020 Max of $900
Full employer & full employee (F/F)   17% 20% 17% 20%
Max of Ordinary Wages: $6,000
Max of Additional Wages: $102,000 - Ordinary Wages subject to CPF for the year

So for example, say you earn $7,500 a month, and earn an annual bonus of $15,000. Only the first $6,000 of your monthly income will be subject to CPF contributions. As for your annual bonus, the Additional Wage Ceiling is $102,000 – $6,000 x 12 = $30,000. This means that your entire annual bonus is also subject to CPF contributions as it is below the CPF contribution cap.

Swingvy tip:
The total CPF contribution will be rounded to the nearest dollar
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