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Anonymous

23 Jul 2020

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Made a mistake by topping up CPF earlier of the year. What happens if CPF contribution from employee in coming months might lead to an exceeding of annual contribution cap?

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Wrong Sean

23 Jul 2020

CPF Board will send you a letter saying that you have made excess voluntary contributions above the Annual Limit. Amount will be refunded to your bank account. The interest in your CPF account will be adjusted(deducted).

Most likely will happen in Feb next year.

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Related Posts

Does CPF's Annual Limit for voluntary top-ups (i.e. $37,740 cap) work on a 12-month rolling basis or does it reset at a certain time (e.g calendar or financial year)?

What happens if my CPF contribution exceeds the annual limit?

If I am a sole proprietor of a business and hire someone to help me with managing the store for example, would I need to contribute the 17% CPF for this employee if their monthly wage exceeds $750?

What happens when CPF SA reaches Extended Retirement Sum for a particular year and you are not 55? Will monthly contributions for salaried still flow into SA?

What happens when I’ve contributed more than the annual limit of $37,740? Will my employer continue to make CPF contributions, or there’s no further CPF contributions from me and my employer?

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