Opening of CPF Account
The Central Provident Fund (CPF) is a comprehensive social security system that enables working Singapore Citizens and Permanent Residents to set aside funds for retirement. It also addresses healthcare, home ownership, family protection and asset enhancement.
Both employees and employers make monthly CPF contributions. As an employer, you should apply to e-submit your CPF contribution details using CPF e-Submit@web as soon as you intend to hire your first employee.
To apply, you will need your SingPass/CorpPass and entity's Unique Entity Number (UEN).
Once your application is approved, you will be notified via email. You will also receive a hardcopy welcome letter which contains your CPF Submission Number (CSN) and a Direct Debit Authorisation form.
Please quote your CSN when transacting with the Board e.g. paying CPF contributions or corresponding with us.
The due date for CPF contributions is on the last day of the calendar month. Enforcement action may be taken against employers who fail to pay by the 14th of the following month (or the next working day if the 14th falls on a Saturday, Sunday or Public Holiday).
This includes imposing late payment interest charged at 1.5% per month commencing from the first day after the due date.
One-time fee of SGD 150.