Hi Guys,
I'd like to ask about CPF cut; let's say my monthly salary is around SGD$5k. I understand when you converted to Singapore Permanent Resident there will be 20% CPF cut/contribution.
My salary component is composed of MS/CS (Monthly/Consol Salary) and MVC (Monthly Variable Component) both add up to $5k in total. My question is, will CPF Cut deducted from my total $5k salary or only from MS/CS?
Thank you.
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Question about CPF cut
Re: Question about CPF cut
From the total amount. Also all your bonuses (if any) are subject to cpf.hellrage wrote: ↑Thu, 06 Aug 2020 10:08 pmHi Guys,
I'd like to ask about CPF cut; let's say my monthly salary is around SGD$5k. I understand when you converted to Singapore Permanent Resident there will be 20% CPF cut/contribution.
My salary component is composed of MS/CS (Monthly/Consol Salary) and MVC (Monthly Variable Component) both add up to $5k in total. My question is, will CPF Cut deducted from my total $5k salary or only from MS/CS?
Re: Question about CPF cut
The CPF deduction ramps up in time (over three years) as well. Also your employer will probably try to find a way to claw back the employer components (which is why, quite reasonably, employers aren't keen on EP holders becoming PR, when I applied I had to agree that the ER could deduct his share from my wages).
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!
Re: Question about CPF cut
@X9200 ok noted with thanxs.x9200 wrote: ↑Fri, 07 Aug 2020 7:37 amFrom the total amount. Also all your bonuses (if any) are subject to cpf.hellrage wrote: ↑Thu, 06 Aug 2020 10:08 pmHi Guys,
I'd like to ask about CPF cut; let's say my monthly salary is around SGD$5k. I understand when you converted to Singapore Permanent Resident there will be 20% CPF cut/contribution.
My salary component is composed of MS/CS (Monthly/Consol Salary) and MVC (Monthly Variable Component) both add up to $5k in total. My question is, will CPF Cut deducted from my total $5k salary or only from MS/CS?
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Re: Question about CPF cut
I would be surprised if on your salary you get PR though.
If your total compensation is 5k per month, then it suggests your monthly salary is below that.
If your total compensation is 5k per month, then it suggests your monthly salary is below that.
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