Does CPF Board accept credit notes to offset future payments if there have been erroneous payment of Contribute As You Earn (CAYE) contributions?
CPF Board does not accept credit notes for the Contribute As You Earn (CAYE) contributions. If the corporate service buyer (CSB) has made an erroneous payment, the CSB can request a refund of the CAYE contribution from CPF Board within one year from the time the contribution was credited into the self-employed person (SEP)’s MediSave account. The CSB will have to seek a refund of the remaining service fee made from the SEP directly and re-transmit the CAYE contributions.
This information is sourced from CPF
Related questions
What if the Contribute As You Earn (CAYE) contribution was paid in error (i.e. paid wrong amount, or paid to the wrong self-employed person)?
Can corporate service buyers recover the overpaid Contribute As You Earn (CAYE) contributions due to overpayment of full service fee?
What happens if corporate service buyers fail to pay the Contribute As You Earn (CAYE) contributions?
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?
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