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Dec 03, 2011 at 06:09 AM

Singapore CPF Calculation

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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