Make it easier for small firms to file CPF contributions

People walking past the CPF building.
People walking past the CPF building. PHOTO: ST FILE

Based on the numbers in the report on April 29 ("CPF arrears: $378m recovered last year"), it seems that smaller companies tend to pay their employees' Central Provident Fund contributions late.

This is not surprising, due to the administrative steps involved in making CPF contributions.

Smaller companies, such as those with a small number of employees, staffed by family members, or whose sole employees are its directors or shareholders, might be more susceptible, as the one responsible for doing this might be too busy or away.

To reduce the paperwork and late contribution figures, perhaps the CPF Board could consider creating templates for these companies to use when filing CPF contributions.

This would allow for one-click filing or even the ability to file multiple CPF contributions in advance (similar to Giro payments).

SMS or e-mail reporting can also be put in place as safeguards.

Tan Suan Tiu

A version of this article appeared in the print edition of The Straits Times on July 01, 2015, with the headline 'Make it easier for small firms to file CPF contributions'. Print Edition | Subscribe