Keyword Analysis & Research: cdac fund opt out

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Frequently Asked Questions

How do I Opt Out of the CDAC scheme?

As contribution to the CDAC Fund is on a per employment basis, you would have to submit a new Opt-Out Form to your new employer and forward the completed form to CDAC if you wish to continue to opt-out from the scheme. 12. Are the contributions tax deductible? Yes, CDAC has been granted status of an Institution of a Public Character (IPC).

What is the CDAC fund?

The CDAC Fund caters to the Chinese community in Singapore and focuses on meeting their needs. All Chinese employees in Singapore will need to make the necessary contributions according to their wage level. However, employees can opt out of contributing if they want to. The CDAC Fund is for the CDAC Skills Training Award Scheme.

How to stop the CDAC contribution of an employee?

The employer can stop the CDAC contribution of the employee immediately after the Opt-Out Form is sent out. A copy of the Opt-Out Form should be filed by the employer for record. No acknowledgement will be given by CDAC upon receipt of the Opt-Out Form.

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.

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