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Payroll formulas on Payboy

Nigel Lim avatar
Written by Nigel Lim
Updated over 3 months ago

For employees obtaining Permanent Residency mid-month:

  • Monthly Salary liable for CPF contributions will be prorated based on the following formula:

  • Manually added & recurring pay items liable for CPF contributions will be prorated based on the following formula:

Additional Wage Ceiling CPF Contributions:

$102,000 – Total Ordinary Wage subject to CPF for the year.

You may refer to the table below for the subjected CPF amount for the respective years :

Leave Encashment:

Unpaid Leave:

Overtime Hourly Rate (based on basic salary, recommended by MOM):

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