Hi,
What should be the appropiriate method for the constant "CPFAW", implementing singapore payroll first time,currently we are using as 2.
Having issues on CPF calculation like,
Constant = CAPOW maintained as 5000 w.e.f = 01.09.2011
Constant = CAPTW maintained as 85000 w.e.f - 01.09.2011
EE CPF maximum monthly deduction limit is 5000*20 % = 1000 its happening correctly.
Fr Example:
Jan OW = 7000
Feb OW = 7000, In Feb employee gets AW as 50,000,
my CPF calculation should be
Maximum Limit i.e 5000 *12 = 60000
As per constant CAPTW = 85000 - 60000 = 25000 remaining for AW
So My AW CPF contibution should be on 25000 not on 50000, but now in system it is checking with CAPTW = 85000
Where I am wrong.
Guide me to correct.
VSK