Keyword Analysis & Research: cdac singapore contribution

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Frequently Asked Questions

Are CDAC contributions mandatory for Singapore citizens working overseas?

CDAC contributions are not mandatory for Singapore Citizens or Permanent Residents working overseas. However, the employee can choose to make voluntary contributions to the CDAC Fund.

What is the CDAC Fund and how does it work?

1. 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. 2. Who benefits from CDAC Fund?

What is the Central Provident Fund (contributions to Community Fund [CDAC]) rules?

These Rules may be cited as the Central Provident Fund (Contributions to Community Fund [CDAC]) Rules. 2. In these Rules, unless the context otherwise requires — “Fund” means the fund established by CDAC for educational, social or economic advancement of the Chinese community.

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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