Back to home

What are the payment modes available under Contribute As You Earn (CAYE)?

Updated by CPF
Corporate service buyers (CSBs) can make Contribute As You Earn (CAYE) contributions via two payment modes:
 

PACE (PayNow for CAYE)
  • CSBs submit a payment file to CPF Board.
  • CPF Board returns an acknowledgement file to CSBs within one working day.
  • After CSBs process the acknowledgement file, CSBs submit a corporate payment file to OCBC via their existing bank payment service.
  • Once CSB’s bank transmits the gross service fee to the CAYE bank account, OCBC will pay the net service fee to the self-employed person (SEP)’s bank account via PayNow (excluding PayNow Mobile Number and Virtual Payments Address), and credit the required CAYE contribution to the SEP’s MediSave Account.

Online submission mode (GIRO DDA)
  • CSBs will log into the CAYE Digital Services using their Corppass and key in the service fee to be paid to the SEP.
  • The CAYE Digital Services will indicate the CAYE contribution required for each SEP.
  • CSBs will only pay the CAYE contribution to SEP’s MediSave account via DDA.

CSBs will pay the net service fee to SEP’s PayNow (excluding PayNow Mobile Number and Virtual Payments Address) separately.

This information is sourced from CPF.

Topics:

Employer - Corporate Service BuyersContribute As You Earn

Related questions

Under Contribute As You Earn (CAYE), corporate service buyers will only pay the net service fee directly to self-employed persons. Are there any legal implications?

cpf

How will corporate service buyers know how much Contribute As You Earn (CAYE) contribution to deduct from the service fee?

cpf

With the additional step to split the service fee under Contribute As You Earn (CAYE), would this result in a delayed payment of service fee that may exceed the credit terms?

cpf

Need more help?

Describe your issues to us.

Contact us