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My employee and I do not wish to apply for refund. Can the excess CPF contributions be retained in the employee's CPF account?
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Source: https://www.cpf.gov.sg/memberFor CPF contributions paid in error or on conditional wages, the refund application must be submitted to the Board within one year from the date of payment of CPF contributions or date wages are repayable to the employer respectively. Hence, if you do not wish to apply for the refund, you would not be able to do so subsequently.
However, if the excess contributions are paid above the CPF Annual Limit, they should not be retained and must be refunded to the employer/employee.
This information provided here is sourced from the CPF website.
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