General information
      Back to home
      1. Swingvy | Help Center
      2. Payroll Singapore
      3. General information

      CPF contribution rate for Singapore permanent residence (SPR)

      There are several CPF rates for Singapore permanent residence (SPR). In Swingvy Payroll, there's a way to maintain the relevant rate for SPR employees.

      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

      You can also update the PR status in bulk by downloading the employee information bulk upload file.

      Payroll > Setting > Company details > Employee information bulk upload

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

      2. You can always check the rate types of the employee in Payroll > People > Select employee > Bank & Statutory > Employee rate type

      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 employees 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.

       

      Note:

      1. The total CPF contribution will be rounded to the nearest dollar
      2. CPF file generated should only include Singapore citizen or PR holder