Does CPF Board accept credit notes to offset future payments if there have been erroneous payment of Contribute-As-You-Earn (CAYE) contributions?
CPF Board does not accept credit notes for the Contribute-As-You-Earn (CAYE) contributions. If the corporate service buyer (CSB) has made an erroneous payment, the CSB can request a refund of the CAYE contribution from CPF Board within one year from the time the contribution was credited into the self-employed person (SEP)’s MediSave account. The CSB will have to seek a refund of the remaining service fee made from the SEP directly and re-transmit the CAYE contributions.
