employers’ CPF contribution rate from 14.5% to 10%?

[sORe-EyEz]

Through observation, contact, talking to people. Especially friends working in banks, loan department. I do not have details figures, if you are interested, you might want to find out yourself.

such personal observation is inaccurate at best. how does 1 go about observing other's income?:think: also, how does 1 know if the truth is said? going on foot asking about personal info like income is not a good way to get a feel on the ground.

there are limits to obeservation, contact & talking to people. wad is missed out, how large the pool of contact & how many will actually divulge actual figures when asked. how many would divulge their income to anybody who asks?:think:

i'll leave personal observation as it is, an observation.

 

[Nisa]

there is no cut in the employers' CPF contribution.

Instead this would be happening...

"Under this, the government will help employers with their wage bills by giving a 12 per cent cash grant on the first S$2,500 earned by each employee on the CPF payroll.

The scheme, called Jobs Credit, is for a year and will be paid out very quarter, starting from March."

 

[scanner]

such personal observation is inaccurate at best. how does 1 go about observing other's income?:think: also, how does 1 know if the truth is said? going on foot asking about personal info like income is not a good way to get a feel on the ground.

there are limits to obeservation, contact & talking to people. wad is missed out, how large the pool of contact & how many will actually divulge actual figures when asked. how many would divulge their income to anybody who asks?:think:

i'll leave personal observation as it is, an observation.

What I did is to share my findings.
You can choose to disagreed with me. I will leave it to you.

 

[Canonised]

there is no cut in the employers' CPF contribution.

Instead this would be happening...

"Under this, the government will help employers with their wage bills by giving a 12 per cent cash grant on the first S$2,500 earned by each employee on the CPF payroll.

The scheme, called Jobs Credit, is for a year and will be paid out very quarter, starting from March."

accordingly this Jobs Credit is equivalent to about 9% of CPF.

This is a Win-Win-Win concept.

The workers do not lose out on employers CPF payment (still getting 14.5%)

The employers will not lose out either, even though they are still paying 14.5% but effectively lesser, i. e. only about 5.5% ( a good saving for the employers)

The govt will lose a lot of revenue but gain a lot of political points as well as saving the jobs for Singaporeans.

Clever, clever, clever :think:

 

[vince123123]

Eh how you calculate from 14.5% become 5%?

 

[flowerpot]

no ang bao for us except for the income tax rebate which i expected...

hopefully my company will remove my 10% pay cut since they are getting 12%... :think:

 

[Canonised]

Eh how you calculate from 14.5% become 5%?

accordingly, this 12% Jobs credit is about 9% of CPF rate (read in the news), so even when the employer is paying 14%, he will receive from the govt about 9%, so effectively the employer should be paying about 5% nett

 

[gunawan]

No wonder there was fire broke out at Std Chart just now :sweat:

Woahahahahahahahahaa!!! Fell off my chair!!!
Obviously a lot of disgruntled employees and staff there. haha.

Imagine if NWC and CPF announce our CPF cut some more few percentage points....
Whole of Singapore will be on fire.. woahahaha.
Mahathir will be laughing his socks off at Lao Lee...:sweatsm:

 

[sORe-EyEz]

What I did is to share my findings.
You can choose to disagreed with me. I will leave it to you.

sharing is fine, but i seem to pass ur observation as a form of legit stat which i find is wrong.

personal findings however accurate is not the whole picture. least it becomes a form if mis-information.

 

[scanner]

sharing is fine, but i seem to pass ur observation as a form of legit stat which i find is wrong.

personal findings however accurate is not the whole picture. least it becomes a form if mis-information.

To set record straight, I've only mentioned "I've noticed...". Do take note.

 

[ortega]

the title is misleading
as the budget has already been announced
please get the correct information from the source

thread closed