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Are CPF contributions payable on Supplementary Retirement Scheme (SRS) allowance if I deposit directly into my employee's SRS account?

Updated by CPF
CPF contributions are payable on Supplementary Retirement Scheme (SRS) allowance as it can be accessed by your employee any time (with a 5% penalty for early withdrawal).

The CPF treatment is the same regardless of whether it is deposited directly into your employee's SRS account or you pay to him in cash.

This information is sourced from CPF.

Topics:

Employer - Employer ObligationsWhat payments attract CPF contributions

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