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How do I calculate my CPF contributions based on net earnings as a platform worker?

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Updated by CPF
Your CPF contribution is calculated based on your net earnings (after fixed expense deduction amount) and the contribution rate applicable to your age, earnings and opt-in status.
 
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Step 1: Determine your gross earnings: $3,000 
 
Step 2: Apply your Fixed Expense Deduction Amount (FEDA): 60% expense for cars
 
Step 3: Compute your net earnings: $3,000 x (1-60%) = $1,200 
 
Step 4: Key in your net earnings into platform worker CPF Contribution Calculator to find out your contributions and allocation.

This information is sourced from CPF

Topics:
Growing Your SavingsSaving as a platform worker with CPF contributions
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