For cc application,
Use iras notice of assessment. Iras notice of assessment will include employee
cpf and bonus but not employer
cpf contribution. This seems to be the most “accurate” comparison of income earned. Based on this, they will calculate your credit limit.
If you just started working, just use the employment letter. anyway most cc annual income is 30,000 which you will definitely hit. If you use employment letter, credit limit will be 4x that of your wage written on employment letter.
The pay that is written in employment letter is inclusive of employee
cpf but not employer
cpf.
So in addition to the amount stated, employer needs to pay you additional 17% to your
cpf.
Up to an annual wage of 102,000. Beyond that no
cpf.
I assume you are 3rd year PR or singapore citizen.
If you are foreigner then no
cpf benefits, instead you get a $1000 housing allowance.