Singapore CPF Calculator 2023
Calculate mandatory CPF contributions for 2023 based on age and wages.
Introduction
🎯 What
Singapore CPF Calculator 2023 calculates mandatory CPF contributions for employees and employers based on monthly wages and age group.
👥 Who
Salaried employees, Employers / HR teams, Payroll managers, and individuals estimating CPF deductions.
💡 Why
To accurately estimate CPF employee contribution, employer contribution, and total CPF payable as per 2023 CPF rules.
👤 Employee Details
Includes basic salary and fixed allowances. Ordinary Wage ceiling: S$6,000.
💵 Contribution Summary
Detailed Calculation Steps
CPF Overview 2023
CPF Rates by Age (2023)
| Age Group | Employee | Employer | Total |
|---|---|---|---|
| ≤ 55 Years | 20% | 17% | 37% |
| 56 – 60 Years | 13% | 13% | 26% |
| 61 – 65 Years | 7.5% | 9% | 16.5% |
| > 65 Years | 5% | 7.5% | 12.5% |
Wage Limits (2023)
- ● Ordinary Wage (OW) Ceiling: S$6,000 per month.
- ● Annual Cap (AW): Total CPF contributions are capped at S$102,000 per year (Additional Wage Ceiling).
- ● Ordinary Wages: Includes basic salary and fixed monthly allowances. Reimbursements are excluded.
Calculation Examples
Example 1: Age 30 (Under Ceiling)
Inputs:
- • Salary: S$5,000
- • Age: 30
Results:
- • Employee CPF (20%): S$1,000
- • Employer CPF (17%): S$850
- • Total CPF: S$1,850
Example 2: Age 58 (Above Ceiling)
Inputs:
- • Salary: S$7,000
- • Age: 58
Results (Capped at S$6,000):
- • Eligible OW: S$6,000
- • Employee CPF (13%): S$780
- • Employer CPF (13%): S$780
- • Total CPF: S$1,560
Frequently Asked Questions
Q: Is CPF mandatory?
A: Yes, for Singapore Citizens and Permanent Residents (PRs).
Q: Is CPF calculated on full salary?
A: No, only up to the monthly Ordinary Wage ceiling (S$6,000 for 2023).
Q: Does bonus attract CPF?
A: Yes, bonuses (Additional Wages) attract CPF, subject to the overall annual limit.
Q: Is CPF tax-deductible?
A: Yes, the employee's share of CPF contribution is tax-deductible.
Disclaimer: This Singapore CPF Calculator 2023 is for informational and Google AdSense purposes only. CPF rates and limits are estimated based on 2023 CPF Board guidelines ($6,000 ceiling). Actual CPF contributions may vary. ANTIGRAVITY does not provide legal or payroll advice.