What is the purpose of the late payment interest?
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
Related questions
How does CPF Board calculate interest on late payment?
How does CPF Board calculate interest on late payment?
Will I lose out on interest on my CPF contributions when my employer pays my CPF contributions late?
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?
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