Are there any changes required to the corporate service buyer’s payment system/process to reconcile the payments made via Contribute-As-You-Earn (CAYE)?
You may consider changing your payment system/ process to reconcile payments made via Contribute-As-You-Earn (CAYE), if necessary.
Generally, if you’re using the bank mode, you will receive a return file from OCBC within three working days from the Funds Deduction Date stated in your bank file. The return file can be used to reconcile payment made to the self-employed persons (SEPs).
If you’re using the online submission mode (DDA mode), you may download the CAYE payment file via the CAYE digital services to reconcile the payment made to the SEPs.
