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[SG] Announcement Changes Related to Refund of CPF contributions paid in excess of CPF Annual Limit



Announcement Changes Related to Refund of CPF contributions paid in excess of CPF Annual Limit

 

Greetings from i-Admin.


As part of CPF effort to streamline processes for employers from February 2024, any CPF contributions paid in excess of the CPF Annual Limit will be refunded automatically to the employer's Direct Debit Account maintained with CPF Board. This applies to excess contributions paid from year 2023.


The refund is subject to the availability of funds in your employees’ CPF account(s).



Yours Sincerely,

i-Admin

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