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#1

Posted 07 January 2009 - 12:53 PM

Dwoon
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Just wondering what are you guys getting for your 13 month.

Did your company deduct for your CPF contribution while also contributing their portion? This was what I was getting in the many years of work.......

But in recent years, seems like I am paid my AWS in full w/o any deductions (while company also never contribute for the 13 month).

What is the usual practise? I understand that AWS is optional and companies need not give this. But for those that do give, what were the practises you've encountered?

Cheers.

Edited by Dwoon, 07 January 2009 - 12:53 PM.


#2

Posted 07 January 2009 - 01:05 PM

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Just wondering what are you guys getting for your 13 month.

Did your company deduct for your CPF contribution while also contributing their portion? This was what I was getting in the many years of work.......

But in recent years, seems like I am paid my AWS in full w/o any deductions (while company also never contribute for the 13 month).

What is the usual practise? I understand that AWS is optional and companies need not give this. But for those that do give, what were the practises you've encountered?

Cheers.


yes, company deduct your CPF contribution also contributing their portion thumbsup.gif


#3

Posted 07 January 2009 - 01:08 PM

Megaweb
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Yes, AWS should be included into CPF.

Can call up MOM hotlines to check.



#4

Posted 07 January 2009 - 01:14 PM

Rickster
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Just wondering what are you guys getting for your 13 month.

Did your company deduct for your CPF contribution while also contributing their portion? This was what I was getting in the many years of work.......

But in recent years, seems like I am paid my AWS in full w/o any deductions (while company also never contribute for the 13 month).

What is the usual practise? I understand that AWS is optional and companies need not give this. But for those that do give, what were the practises you've encountered?

Cheers.


So far, for my past employers & current, the AWS has always been 20% taken out for CPF (employer contribute their part also).

As for bonuses, so far i've been receiving the full amt. No CPF contribution.

#5

Posted 07 January 2009 - 01:16 PM

Ahwhye
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There is a ceiling below which your monthly salary is subjected to CPF deduction (anything above is all yours biggrin.gif ). Similarly there is a ceiling for the annual salary below which your annual salary is subjected to CPF deduction.

Ifyour total monthly contributions (for the 12 months) already can hit the requirement for annual salary, then ur AWS got it in full lor. just hope not the case of ur co trying to saving their part of contribution......

very chim one, go cpf website to find out lah.....

#6

Posted 07 January 2009 - 01:24 PM

Dwoon
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Huuh??? Annual salary got ceiling one ah?

I thought the ceiling was the monthly pay of $4500, so the maximum deduction is $900 (or 20%). Balance salary above the $4500 will be issued w/o deductions (and contribution by employer)

Eh... any HR specialist here can explain??? confused.gif

There is a ceiling below which your monthly salary is subjected to CPF deduction (anything above is all yours biggrin.gif ). Similarly there is a ceiling for the annual salary below which your annual salary is subjected to CPF deduction.

Ifyour total monthly contributions (for the 12 months) already can hit the requirement for annual salary, then ur AWS got it in full lor. just hope not the case of ur co trying to saving their part of contribution......

very chim one, go cpf website to find out lah.....


Edited by Dwoon, 07 January 2009 - 01:24 PM.


#7

Posted 07 January 2009 - 01:25 PM

Newbie_driver
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So far, for my past employers & current, the AWS has always been 20% taken out for CPF (employer contribute their part also).

As for bonuses, so far i've been receiving the full amt. No CPF contribution.


for bonus, there is also cpf contribution. maybe you can go cpf website or call them to find out more...

#8

Posted 07 January 2009 - 01:26 PM

Dwoon
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Strange thing is that there is deduction for profit sharing (bonus) leh...... but none for AWS... rolleyes.gif



So far, for my past employers & current, the AWS has always been 20% taken out for CPF (employer contribute their part also).

As for bonuses, so far i've been receiving the full amt. No CPF contribution.



#9

Posted 07 January 2009 - 01:30 PM

Rickster
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for bonus, there is also cpf contribution. maybe you can go cpf website or call them to find out more...


Yap, i understand, heard about this also.

However, bonuses is something extra, so as long as they give and i'm happy, thats all!

#10

Posted 07 January 2009 - 01:32 PM

Rickster
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Strange thing is that there is deduction for profit sharing (bonus) leh...... but none for AWS... rolleyes.gif


I think diff companies have different policies ba.

The most impt thing is that you get extra $ over your salary. Don't bother too much about it.

Also to note, some companies list these $ that goes to you as something else in their account books lipsrsealed.gif

Edited by Rickster, 07 January 2009 - 01:36 PM.


#11

Posted 07 January 2009 - 01:40 PM

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Actually quite simple.... In short, if the total amt of bonus/aws that you get is more than 22.5K, then the excess amt above 22.5K will not be subjected to CPF deductions.

Example,

If person A earns 5K/mth and gets 4 mths bonus + 1 mth aws, then his bonus amt would be 5K x 5 = $25K.

22.5K will be subjected to CPF, so 25K - 22.5K = $2.5K (this amt do not need to contribute CPF)
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#12

Posted 07 January 2009 - 01:48 PM

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......AWS and performance bonuses are also not subject to the $4500 limit.

For example, whether you earn $6K/mth or $8K/mth, your max monthly CPF deduction is still 20% of $4500 = $900

However, your 13th month AWS of $6K will be deducted by 20% of $6K = $1200

If your performance bonus is $10K, CPF deduction is 20% of $10K = $2000

#13

Posted 07 January 2009 - 01:48 PM

Dwoon
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Ah.... ok... thanks. This explains it all..... now I understand. sweatdrop.gif

Actually quite simple.... In short, if the total amt of bonus/aws that you get is more than 22.5K, then the excess amt above 22.5K will not be subjected to CPF deductions.

Example,

If person A earns 5K/mth and gets 4 mths bonus + 1 mth aws, then his bonus amt would be 5K x 5 = $25K.

22.5K will be subjected to CPF, so 25K - 22.5K = $2.5K (this amt do not need to contribute CPF)



#14

Posted 07 January 2009 - 01:51 PM

Dwoon
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Is it???

My bonus all also kena the $4500/mth cap leh.... (also good, so don't lock anymore $$$ into CPF than necessary)

AWS, lagi better.... never deduct at all.....


......AWS and performance bonuses are also not subject to the $4500 limit.

For example, whether you earn $6K/mth or $8K/mth, your max monthly CPF deduction is still 20% of $4500 = $900

However, your 13th month AWS of $6K will be deducted by 20% of $6K = $1200

If your performance bonus is $10K, CPF deduction is 20% of $10K = $2000



#15

Posted 07 January 2009 - 01:52 PM

Mydotcom
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Sorry, correction there.

The 22.5K is derived based on the assumption that e person has already hit the max ceiling of 4500/mth.

The actual formula is 76.5K - total wage contribution.

ie 76,500 - ( your mthly pay that is subjected to CPF x 12 ).

So if your bonus + aws amt is > [ 76,500 - ( your mthly pay that is subjected to CPF x 12 ) ], then the excess will not be subjected to CPF.
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#16

Posted 07 January 2009 - 01:53 PM

Mydotcom
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Is it???

My bonus all also kena the $4500/mth cap leh.... (also good, so don't lock anymore $$$ into CPF than necessary)

AWS, lagi better.... never deduct at all.....


Could be because your bonus is not high enough to exceed the ceiling.

The ceiling is actually quite high.

For someone who earn 5K, the bonus must be more than 4 mths to exceed the ceiling.

anything below the ceiling will still be subjected to the 4500 max CPF contribution.
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#17

Posted 07 January 2009 - 01:54 PM

Ahwhye
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ehh .........it is called additional wage ceiling which also take your salary for the 12months into calcualtion.



Huuh??? Annual salary got ceiling one ah?

I thought the ceiling was the monthly pay of $4500, so the maximum deduction is $900 (or 20%). Balance salary above the $4500 will be issued w/o deductions (and contribution by employer)

Eh... any HR specialist here can explain??? confused.gif



#18

Posted 07 January 2009 - 01:57 PM

Dwoon
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Wah.... if based on this formula....

Then should I consider myself already lucky that my bonus got CPF deductions (with employer contribution).... when it is more than the

[ 76,500 - ( your mthly pay that is subjected to CPF x 12 ) ]

. sweatdrop.gif





Sorry, correction there.

The 22.5K is derived based on the assumption that e person has already hit the max ceiling of 4500/mth.

The actual formula is 76.5K - total wage contribution.

ie 76,500 - ( your mthly pay that is subjected to CPF x 12 ).

So if your bonus + aws amt is > [ 76,500 - ( your mthly pay that is subjected to CPF x 12 ) ], then the excess will not be subjected to CPF.



#19

Posted 07 January 2009 - 02:08 PM

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What's the employer CPF contribution rates like?

#20

Posted 07 January 2009 - 02:18 PM

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Just wondering what are you guys getting for your 13 month.

Did your company deduct for your CPF contribution while also contributing their portion? This was what I was getting in the many years of work.......

But in recent years, seems like I am paid my AWS in full w/o any deductions (while company also never contribute for the 13 month).

What is the usual practise? I understand that AWS is optional and companies need not give this. But for those that do give, what were the practises you've encountered?

Cheers.


Wow what is AWS by the way? This word dun exist in my dictionary ever since i started working smallcry.gif

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