Greetings from i-Admin. From 1 August 2022, the Record of Payment (ROP) will indicate any mismatch between the new employees’ names you have provided and the names indicated in their NRICs. CPF contributions are credited to your employees’ CPF accounts based on the NRIC numbers you have provided in your CPF submission. You are reminded […]
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Greetings from i-Admin. The CPF contribution rates for employees aged above 55 to 70 will be increased to strengthen their retirement adequacy. The changes will apply to wages earned from 1 January 2023: There are some highlights from CPF board as per below details: • For those earning monthly wages of more than $500 to […]
Dear Customers, With refer to the final update from the government regarding an amendment of minimum wage, under Minimum Wage Order (MWO) 2022 that was gazette on 27th April 2022, it has been decided that : a) Minimum wage of MYR1,500 per month is effective 1st May 2022: 1) For an employer who employs 5 […]
Dear Customers, Starting 14 April, 2022, employers are required to pay the retirement benefit (severance payment) to Individual Retirement Pension (IRP) Accounts to employees leaving the company instead of paying out under the payroll account as current practice. Please feel free to contact us if you have any questions. Best regards, i-Admin Korea Inc.
Hi All, This is to inform that there is changing on Thailand Social Security Contribution rate with following details The rate changing is for payroll of May’22 – July’22 The new Employee Social Security contribution rate is 1% (the current rate is 5%) The new Employer Social Security contribution rate is 1% (the […]
The State Council newly released an announcement that care expenses for children under 3 year-old would be included in the Special Additional Deductions for Individual Income tax, which is retroactive from 1 Jan 2022. The standard and application rule for this new deduction item is as below. Deduction Type Standard Amount (CNY) Scope of […]
Announcing Japan Team Japan Unemployment Insurance Deduction Rate 2022 Update Hi All, Japan Labor Bureau has announced updates on the Japan Unemployment Insurance deduction rate effective from April 1, 2022 to September 30, 2022. The Unemployment Insurance rate for Employer contribution has been changed from 6% to 6.5% for general business type. Please […]
Announcing Indonesia Team INDONESIA Pension Program Update 2022 Greetings from i-Admin. Indonesia government has issued an update related to the amount of benefits and wage regulation for BPJS pension 2022. Please see below for updated details of Jaminan Pensiun (Pension Guarantee): Minimum Pension Benefits is IDR.363,300.00 per month and maximum of IDR.4,357,900.00 […]
Dear Customers, Please be advised that “The Birthday of the Buddha” (Sunday, 8 May 2022) was newly added into 2022 statutory holiday, according to an update on “The Employment (Amendment) Ordinance 2021”. For more details, please refer to this link for your reference. For any further information, please feel free to contact us if […]
Dear Customers, On 31 December 2021, China Ministry of Finance and State Administration of Taxation made [2021] No. 42 and [2021] No.43 announcement regarding extension of some China tax preferential policies in order to further reduce the burden on taxpayers. The relevant IIT preferential policies were summarized as follows: 1. Year-end bonus The existing preferential […]