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CPF contribution

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jansriku
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CPF contribution

Postby jansriku » Wed, 30 Dec 2009 7:15 pm

This may sound silly... but i have this doubt.

Say for example, if, I get my PR on Oct 2009, get employed on Dec 2009 for a monthly salary $2100, what will be my CPF contribution and employees contribution? Per my understanding it is

Employee - $105
Employer - $84

Is it correct? Or by choice

Can the employer and employee agree for full rate contribution at the first year of PR and contribute this way after submitting (prescribed form CNR/PR/94A) -

Employer - $305
Employee - $420

To be more clear i have this doubt... can the employer and employee at mutual agreement decide whether they can contribute at full rate/graduated rate?

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sundaymorningstaple
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Postby sundaymorningstaple » Wed, 30 Dec 2009 8:55 pm

Assuming you are under the age of 45 then yes,

As a 1st Yr PR under fully graduated rates your contributions would be

Employee - $105
Employer - $84

Under Partially graduated rates (employer pays full amount) would be

Employee - $105
Employer - $305

and under full rates it would be

Employee - $420
Employer - $305

But remember, only the graduated rates are mandatory. The others have to be mutually agreeable between the employer and employee. It would help to get it in writing as well. I don't know if you are allowed to pick and choose as and when you and the employer feel like it though.

sms


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