What is the purpose of the late payment interest?

Updated by CPF 2y ago

The late payment interest, subjected to a minimum amount of $5, serves to deter employers from paying CPF contributions late for their employees.

This information is sourced from CPF.

Topics:

Employer - Compliance and Rectifications Enforcement and penalties for non-compliance

Related questions

Will I lose out on interest on my CPF contributions when my employer pays my CPF contributions late?

What will happen if I pay late or do not pay CPF contributions for my employees?

I incurred late payment interest for my employee's late CPF contribution as he did not inform me of his Singapore Permanent Resident status. Can I recover the interest from him?

Need more help?

Describe your issues to us.