Why did I receive a refund of excess CPF contributions paid to my employee(s) when I did not apply for the refund?
Starting February 2024, CPF contributions paid in excess of the CPF Annual Limit for the preceding year will be automatically refunded to the employer’s bank account under the Direct Debit arrangement maintained with CPF Board.
You are required to refund the employee’s share of excess contributions, if any, directly to your employee.
As employers, you are required to ensure accurate CPF contributions up to the CPF Annual Limit per year for each employee by applying the Ordinary Wage (OW) ceiling and Additional Wage (AW) ceiling.
This information is sourced from CPF
Related questions
I have paid excess CPF contributions above the Additional Wage (AW) ceiling and the CPF Annual Limit, how can I apply for a refund in these situations?
How can I apply for refund of excess CPF contribution paid above Additional Wage (AW) ceiling?
Can I request CPF Board to refund the employee's share of excess CPF contributions directly to my employee?
Why is the amount refunded to me by my employer less than the amount deducted from my CPF account(s) for the refund of excess CPF contributions?
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