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Question about CPF cut

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hellrage
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Question about CPF cut

Post by hellrage » Thu, 06 Aug 2020 10:08 pm

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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x9200
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Re: Question about CPF cut

Post by x9200 » Fri, 07 Aug 2020 7:37 am

hellrage wrote:
Thu, 06 Aug 2020 10:08 pm
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?
From the total amount. Also all your bonuses (if any) are subject to cpf.

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PNGMK
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Re: Question about CPF cut

Post by PNGMK » Fri, 07 Aug 2020 8:35 am

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!

hellrage
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Re: Question about CPF cut

Post by hellrage » Fri, 07 Aug 2020 10:24 pm

x9200 wrote:
Fri, 07 Aug 2020 7:37 am
hellrage wrote:
Thu, 06 Aug 2020 10:08 pm
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?
From the total amount. Also all your bonuses (if any) are subject to cpf.
@X9200 ok noted with thanxs.

TropicalExpat
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Re: Question about CPF cut

Post by TropicalExpat » Mon, 31 Aug 2020 1:39 pm

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.

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