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

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.
 
Illustration
 
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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