Keyword Analysis & Research: cdac fund

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Frequently Asked Questions

What is the CDAC fund used for?

The CDAC Fund is used to fund CDAC’s programmes and assistance schemes to help the students, workers and families from the lower income groups overcome their challenges and achieve social mobility.

Can all Chinese employees contribute to the CDAC?

Similarly, all Chinese employees can choose to make contributions to the CDAC funds, according to their wage level, as shown below, although employees may choose to opt out of contributing:

How does CDAC reach out to lower-income households?

In 2020, CDAC reached out to 18,000 lower-income households through educational and development programmes, bursary and subsidy schemes for needy students, fulfilling ageing activities for seniors and financial assistance and employment support for families.

How is the CDAC contribution pro-rated for employees?

The employer shall pro-rate the contribution based on the gross wages paid to the employee for that period. 19. If an employee resigns and joins another company in the same month, do both employers have to deduct the CDAC contribution from the employee’s salary? Yes, the CDAC contribution is on a per employment basis.

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