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Under what scenarios will monies transmitted via Contribute As You Earn (CAYE) bank mode be returned to the corporate service buyer?

Updated by CPF
An admin fee of $0.55 per transaction will be deducted from the gross service fees before the remainder is returned to the corporate service buyer if:
  1. the self-employed person (SEP)’s bank account is closed or invalid;
  2. the SEP’s NRIC is invalid; or
  3. the CPF submission number in the bank file is invalid.

This information is sourced from CPF.

Topics:

Employer - Corporate Service BuyersContribute As You Earn

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