Singapore — Full Payroll (CPF Contributions, SDL, Income Tax Withholding, NS Pay)

💡 Accountant's Note

Singapore payroll is relatively streamlined but has the unique CPF (Central Provident Fund) system. CPF applies to Singapore Citizens and Permanent Residents only (not Work Pass holders / foreigners). SINGAPORE CITIZENS AND PRs: CPF Contribution Rates (2024) — for employees aged 55 and below: employee 20%, employer 17% (total 37%). Rates reduce progressively for older workers: 55–60 years (employee 13%, employer 13%); 60–65 years (employee 7.5%, employer 9%); 65–70 years (employee 5%, employer 7.5%); above 70 years (employee 5%, employer 5%). CPF is allocated across three accounts: Ordinary Account (OA — housing, education, insurance), MediSave Account (MA — healthcare), Special Account (SA — retirement). Monthly CPF salary ceiling: $6,800 (from September 2023, increasing to $7,400 from January 2025 and $8,000 from January 2026 per phased increases). Annual limit: $102,000. SDL: Skills Development Levy at 0.25% of monthly gross wages (minimum $2, maximum $11.25 per employee). Remitted to SkillsFuture Singapore with CPF. INCOME TAX: Singapore uses a preceding-year basis — employees pay income tax in the current year on the previous year's income. Employers do NOT withhold income tax monthly (no PAYE system except for lump-sum payments like bonuses where employers may withhold at 20% flat if the employee is leaving). IR8A forms submitted to IRAS by 1 March each year (auto-inclusion scheme). FOREIGN EMPLOYEES (Work Pass holders): No CPF. Withholding tax at 15% (flat) may apply to non-residents on certain income types. NATIONAL SERVICE PAY: NS men on in-camp training (ICT) receive NS pay — employers must top up to regular salary; the government reimburses the NS pay portion.