We’re happy to announce the following new changes that have recently been made to the system:
- Company-wide setting for annual leave days entitlement per year. To change the annual leave entitlement, just go to Settings -> Payroll Calculations -> Leave, and enter the value there. The default for newly created companies will be 14 days.
- Added ability to set full CPF contributions for employees in first or second year of permanent residence.
- Employees can now see their available annual leave balance and history on self-service.
- Fixed error where minimum SDL contribution of $2 was calculated for $0 income payslips, instead of $0 SDL contribution.
- Round down total SDL on monthly CPF Return.
- Pro-rata calculation for partial months worked / unpaid leave now uses correct MOM calculation, using actual number of working days in the month rather than in an average month.
SimplePay is pleased to announce the following changes in your payroll program:
The central provident fund board of Singapore announced that from 1 January 2014, the CPF contribution rates for low-wage workers will be increased to help them save more for retirement. Private sector employees and government non-pensionable employees, including first and second year Singapore Permanent Residents (SPR), who are earning monthly wages of between $50 to $1,500 will benefit from the changes.
The following changes will apply to wages earned from 1 January 2014:
i) Increase in Employee’s CPF contribution rate
The phased-in employer’s CPF contribution rates for all employees aged above 35 years old and earnings wages of >$50 to $50 to $500 to $750 to <$1500 will be increased to the full rates.
There is no change for employees earning wages of ≤$500 as they are not required to make employee CPF contributions.
The above changes has already been incorporated in your SimplePay payroll.
The Central Provident Fund Board
A Xero partner company operating in Singapore, namely Futurebooks, has written a blog post based on their impressions of SimplePay during the private beta period. You can read it here.