How to calculate salaries?
Salaries are typically calculated and paid on a monthly or daily basis.
Monthly salary calculation (for incomplete month’s pay):
(Monthly gross rate of pay) / (Total number of days in that month) x (Total number of days the employees worked in that month)
Daily salary calculation:
(12 x Monthly basic rate of pay) / (52 x Average no. of days an employee is required in a week)
For more details on salary calculations, visit the Ministry of Manpower website
How to calculate CPF contributions?
CPF contributions vary based on the employee’s age and wages. To ensure accuracy, refer to the CPF contribution calculator for the latest rates.
To simplify payroll management, consider using payroll software such as HREasily, Talenox, PayBoy or QuickBooks Payroll to automate salary and CPF calculations, as well as tax filing, ensuring compliance with Singapore’s regulations.
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