That was revealed to me when I reviewed my yearly statement and that is that bonuses from your employer are CPF liable above that ceiling. As they are not "ordinary wages". As a result of that my total contributions exceeded the 37,740 cap by about 10k. I guess I could use my PTE ...
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 ...