CPF for directors
Do directors get CPF?
The situation
Directors who are citizens or PRs and receive wages as employees get CPF. Director fees alone are not wages for CPF.
The law
- Sec 7, Central Provident Fund Act 1953: Employers pay CPF for Singapore Citizen and PR employees monthly
What it means for you
Fees approved at AGM differ from salary. Classify correctly. Director fees approved at an AGM are not CPF-able wages. Salary paid to a director employee is.
What to do
- Classify payments.
- Apply CPF to salary.
- Report fees.
- Keep records.
We can do this for youMonthly CPF and SDL contributions: SGD 150