Over $1 Billion in 2020 Wage Credit Scheme Payouts to more than 95,000 Employers; Employers to make CPF Contributions by 14 Jan 2021 to receive next tranche of 2021 Payouts in Mar 202122 Dec 2020
(a) Have given Singaporean employees who earned a gross monthly wage of up to $5,000, a gross monthly wage increase of at least $50 in 2020, and/or have sustained the gross monthly wage increase (at least $50) previously given to employees in 2017,
2018 and/or 2019; and
(b) Have paid the employees’ mandatory CPF contributions on 2020 wages to the CPF Board by 14 January 2021 .
22 December 2020
Employers are required to make CPF contributions within 14 days from the end of each month for which CPF contributions are due. If the 14th day falls on a Saturday, Sunday or public holiday, the grace period will be extended to the next working day. Late payment interest will otherwise apply.
Companies can sign up for PayNow Corporate by linking their company’s UEN (without suffix) to their bank account via internet banking. For assistance, please approach the bank.
Once registered for GIRO for Income Tax/GST, this will be the default payment mode for IRAS’ related transactions such as tax payments.