The Central Provident Fund (CPF) Board has stepped up enforcement inspections on employers in recent years. Nearly S$2.7 billion in CPF arrears were recovered from employers within a five-year period from 2014 to 2018, whether through desktop audits, on-site audits or simply acting on complaints by employees.
At a recent Tax Excellence Decodedsession by the Singapore Institute of Accredited Tax Professionals (SIATP), Accredited Tax Advisor (Income Tax) Kerrie Chang, Partner, People Advisory Services –Mobility, Ernst & Young Solutions; Sandesh Kumar, Director, and Sharon Chiam, Associate Director, both from People Advisory Services –Mobility, EY Corporate Advisors, provided a timely reminder to businesses and highlighted the essentials in complying with CPF obligations in Singapore.
Source: https://www.siatp.org.sg/ArticlesResources/200109-Mobility-Article-NM.pdf