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How are the excess CPF contributions derived and from which month of my employee's CPF contributions be refunded?

Updated by CPF
The excess CPF contributions are derived by subtracting the CPF Annual Limit of $37,740 from the total mandatory CPF contributions paid for the year, and refunded from the latest month which excess CPF contributions were paid on the Ordinary Wage.
 
You may refer to an example.

This information is sourced from CPF.

Topics:

Employer - Compliance and RectificationsApplying for refund of CPF contributions

Related questions

I was notified that the total CPF contributions received have exceeded the CPF Annual Limit of $37,740, and the excess CPF contributions will be refunded to my employer. When should my employer return my share of excess CPF contributions?

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Why did I receive a refund of excess CPF contributions paid to my employee(s) when I did not apply for the refund?

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Why is the amount refunded to me by my employer less than the amount deducted from my CPF account(s) for the refund of excess CPF contributions?

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Can I request CPF Board to refund the employee's share of excess CPF contributions directly to my employee?

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