It is a CPF contribution cap on additional wage types, like bonuses. The formula for Additional Wage Ceiling:$102,000 – Ordinary Wages, which is subject to CPF for that year. Example: Addie earns = $7,500/month,Annual Bonus = $15,000How the Calculation works:Ordinary Wage: The first ...
For the caculation of CPF, the following individual steps take place during payroll: The SAP system reads an employee's income details like Ordinary Wages (OW), Additional Wages (AW), paid and unpaid AW in current year and last year’s Total Ordinary Wages (TOW) subject to ...
Process Flow for Calculation of CPF For the caculation of CPF, the following individual steps take place during payroll: The SAP system reads an employee's income details like Ordinary Wages (OW), Additional Wages (AW), paid and unpaid AW in current year and last year’s Total Ordinary Wage...