The Central Provident Fund or CPF is a compulsory pension fund scheme in which the employer and employee contribute a percentage of the monthly salary to the fund. CPF contribute on by the employer is mandatory for all local employees who are Singapore citizens or permanent residents earning more than S$50 a month. The maximum CPF contribution rate for employer and employee is 14.5% and 20% respectively and can be lower depending on certain factors such as employee age and permanent resident status. Employment pass holders do not have to contribute to CPF.

1. CENTRAL PROVIDENT FUND
& SKILLS DEVELOPMENT LEVY

2. Copyright © 2015 Rikvin Pte LtdLast updated on September 1, 2015
The Central Provident Fund or CPF is a compulsory pension fund scheme in which the employer and employee contribute a
percentage of the monthly salary to the fund. CPF contribution by the employer is mandatory for all local employees who
are Singapore Citizens or Permanent Residents earning more than S$50 a month. The maximum CPF contribution rate for
employers and employees is 17% and 20% respectively and can be lower depending on certain factors such as employee
age and permanent resident status. Employment pass holders do not have to contribute to CPF.
1st
year PR 2nd
year PR
3rd
year onwards PR
and Singapore citizen
Graduated Employer & Employee Rates With effect from 1 Jan 2015
(A) Employees age 50 years and below
Employee 5.00% 15.00% 20.00%
Employer 4.00% 9.00% 17.00%
Total 9.00% 24.00% 37.00%
(B) Employees age above 50 to 55 years
Employee 5.00% 15.00% 19.00%
Employer 4.00% 9.00% 16.00%
Total 9.00% 24.00% 35.00%
(C) Employees age above 55 to 60 years
Employee 5.00% 12.50% 13.00%
Employer 4.00% 6.00% 12.00%
Total 9.00% 18.50% 25.00%
(D) Employees age above 60 to 65 years
Employee 5.00% 7.50% 7.50%
Employer 3.50% 3.50% 8.50%
Total 8.50% 11.00% 16.00%
(E) Employees age above 65
Employee 5.00% 5.00% 5.00%
Employer 3.50% 3.50% 7.50%
Total 8.50% 8.50% 12.50%
* Based on a base salary of $1,000 per month.
SINGAPORE CENTRAL PROVIDENT FUND (CPF) RATES
All companies required to contribute a fee to the skills development fund. SDL contribution is payable by employers for all
employees up to the first $4,500 of gross monthly remuneration at the rate of 0.25% or $2, whichever is higher.
WORKER GROSS MONTHLY REMUNERATION SDL PAYABLE REMARKS
A $150.80 $2.00 Minimum of $2 is payable
B $609.50 $2.00 Minimum of $2 is payable
C $2,000.00 $5.00 0.25% levy
D $4,500.00 $11.25 0.25% levy
E $4,502.00 $11.25 First $4,500 levied at 0.25%
F $10,000.00 $11.25 First $4,500 levied at 0.25%
SKILLS DEVELOPMENT LEVY (SDL)

3. Copyright © 2015 Rikvin Pte LtdLast updated on September 1, 2015
RIKVIN PAYROLL SERVICES
R I V I N P A Y R O L L S O L U T I O N S
PACKAGE 1: PREMIUM PACKAGE 2: STANDARD PACKAGE 3: LITE
Covers all major HR process
of your company, including:
employment contracts,
CPF registration, payroll processing
including disbursement of employee
salaries and expenses, payment
of levies & CPF, submission of claims
and IR8A Forms
Price:
(Available upon request)
This package comprises
of payroll processing
including disbursement of
employee salaries
and expenses, payment of levies
and CPF, submission
of claims and
annual IR8A Forms.
Price:
(Available upon request)
This package comprises of
payroll computations,
generation of payroll
reports and payslips for
employees including CPF
payment advice.
Price:
(Available upon request)
Contact us at info@rikvin.com or call us at (+65) 6320 1888.
Let us take the load off you.
Running a company is hard work. Outsource your payroll tasks to us so that you can focus on growing your
business.
Our payroll services have consistently helped small and medium sized enterprises, start-ups and companies
like you remain in compliance with authorities as well as avoid unnecessary penalties.
Our payroll services include the following:
• Fully automated payroll systems with a dedicated human interface
• Flexibility in pay runs: Fortnightly or monthly payroll
• Computerized payslips and payroll reports for management
• Online leave management & expense reimbursement features
• Annual compliance documents like Form IR8A & IR8S
• Maternity claims, NS (MINDEF) claims, childcare leave application services
• Tax clearance for non-local employees
• Drafting of employment contracts and agreements
• CPF registration of employers

4. Copyright © 2015 Rikvin Pte Ltd
RIKVIN PTE LTD
30 Cecil Street,
#19-08 Prudential Tower,
Singapore 049712
Main Line: (+65) 6320 1888
Fax : (+65) 6438 2436
Email : info@rikvin.com
Website : www.rikvin.com
Reg No. 200100602K
EA License No. 11C3030
The information contained herein is intended for general
information purposes only and shall not be regarded as
professional advice. Readers are therefore advised that
before acting on any matter arising from these notes, they
should discuss their particular situation with the Firm. No
liability can be accepted for any action taken as result of
reading the notes without prior consultation with regard
to all relevant factors.
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