CPF contribution by employee:
Understanding the cpf rates is important for employees to get the maximum benefit from this opportunity an employee must know how much he have to contribute from his salary.
CPF contribution rate varies from age-to-age employees below 55 years of age have to give 20% of there salary and if above 50 and 60 then they must have to pay 15% and 9.5% respectively to get a detailed knowledge of CPF contribution rates in 2023 feel free to visit s://streamyouraccounting.com/a-detailed-guide-about-cpf-contribution-rates-in-2023/
CPF Contribution By Employer:
For employers it is also mandatory to provide their contribution in cpf. Contribution rate by employers differs comparing to employee’s contribution rates. Such as for employees below 55 employe have to pay 17% of their salaries for employees above 55 years of age they have to give 14.5% rate similarly for above 60 and 65 they have to provide 11% and 8.5% respectively.