Get Peoplesoft Global Payroll Singapore Cpf Form

The Central Provident Fund (CPF) is a mandatory social security savings scheme funded by contributions from employers and employees.

An employee's CPF contributions are computed based on the Total Wages payable in a calendar month. Total Wages are made up of an employee's Ordinary Wages and Additional Wages. Different ceilings apply to Ordinary Wages and Additional Wages. Learn more.

How Much Do I Need To Contribute To My CPF Each Month? Each month, we have to contribute up to 20% of our salary, and our employers have to contribute up to 17% of our salary to our CPF accounts up to a salary cap of $6,000. This percentage may vary depending on our age and our income.

Employees contribute up to 20% of their salary to their CPF accounts. In addition, they also receive up to 17% of their salaries in employer's CPF contributions.

As a part of the Oracle PeopleSoft HCM family of applications, Global Payroll is the PeopleSoft Absence and Payroll processing solution that companies trust to pay their staff accurately and on time.

CPF contributions are required on wages payable to any Singapore Citizen or Permanent Resident employee working in Singapore, even if the contract is signed overseas.

Under the CPF Act, wages are defined as remuneration in money, including any bonus that is due or granted to a person in respect of his employment. CPF contributions are computed based on an employee's wages.

Understanding PeopleSoft Payroll PeopleSoft Payroll is software for managing business payrolls. It automates the payroll system, making accurate, on-time payments to your entire workforce. It also allows the human resources team to manage payroll records.