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Are CPF contributions rounded to the nearest dollar?
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Source: https://www.cpf.gov.sg/memberThe total contributions for the calendar month should be rounded off to the nearest dollar. Cents should be dropped for amounts less than 50 cents. Amounts of 50 cents and above should be treated as an additional dollar.
You are entitled to recover the employee’s share of CPF contributions when paying your employee’s wages for the month. The cents should always be dropped for the employee’s share of CPF contributions.
You can use our CPF Contribution Calculator to calculate the CPF contributions applicable to your employees.
You can also use CPF EZPay to auto-compute your CPF contributions for greater convenience!
This information provided here is sourced from the CPF website.
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