SG: CPF Calculation On Additional Wages Not Considering Projected Earnings Till Financial Year End
(Doc ID 3051709.1)
Last updated on OCTOBER 14, 2024
Applies to:
Oracle HRMS (Singapore) - Version 12.2.8 and laterInformation in this document applies to any platform.
Symptoms
The projected earnings for the financial year are not considered during the calculation of CPF on Additional Wages.
Example:
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DoB: Sep-1993
CPF Capping Method = Self Adjust - Projected
SOE:
Jan-2024:
Basic Salary SGD = 5930.43
Employee CPF = 1186.00
Employer CPF = 1008.00
Feb-2024:
Basic Salary SGD = 6200.00
Commission = 21000.00
Employee CPF = 5440.00
Employer CPF = 4624.00
Mar-2024:
Basic Salary SGD = 6200.00
Commission = 8000.00
Employee CPF = 2840.00
Employer CPF = 2414.00
Apr-2024:
Basic Salary SGD = 6200.00
Commission = 10000.00
Employee CPF = 3240.00
Employer CPF = 2754.00
May-2024:
Basic Salary SGD = 6200.00
Commission = 50000.00
Employee CPF = 7693.00
Employer CPF = 6541.00
Payroll is run only till May-2024. But for the purpose of CPF calculation, system should consider the projected earnings till Dec-2024.
In the online calculator, when the projected earnings are entered till Dec-2024, cap is reached in Mar-2024 itself.
Same behavior is expected from Oracle's system calculation as well.
Steps:
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1. Responsibility: SG HRMS Manager
2. Navigate to View > Requests > Submit New Request
3. Process payroll with Ordinary and Additional Wages
4. Check the CPF calculation in SOE and Run Results
Cause
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In this Document
| Symptoms |
| Cause |
| Solution |
| References |