Navigating the Latest CPF Contribution Changes: What to Expect on 1 September 2023
As an employer,staying up-to-date with the latest changes and updates in the employment landscape is crucial. One of the key changes that will affect employers in Singapore is the upcoming CPF contribution adjustment, which is set to take effect on September 1, 2023. At Adaptive Pay, we understand the importance of being prepared for these changes. That's why we are already working on implementing the necessary updates to our HRMS payroll software and solutions. We offer comprehensive tools—including timesheet software , claims management software , and payroll software for small businesses in Singapore —to help you through the transition. We believe that by informing and educating our clients early on, they can make a smoother switch and avoid any potential disruptions in their operations. What are CPF contributions? CPF (Central Provident Fund) contributions refer to the mandatory savings account for working Singaporeans. Employees contribute a percentage of t