Under Contribute As You Earn (CAYE), what should corporate service buyers do to set-off monies from an upcoming payment?
To set-off monies (e.g. due to over-payment, or excess non-revenue payment made earlier) from an upcoming payment, corporate service buyers (CSBs) need to make the transaction via the Contribute As You Earn (CAYE) online submission mode. This means that CSBs need to key in the full service fee payable to derive the MediSave payable via CAYE, and thereafter set-off any monies from the net service fee payable to the self-employed person.
This information is sourced from CPF
Related questions
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?
What are corporate service buyers required to do under Contribute As You Earn (CAYE)?
How can corporate service buyers using the bank mode check the breakdown of the Contribute As You Earn (CAYE) contributions and net service fee to the self-employed person?
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