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Corporate service buyers

Paying CPF for self-employed vendors

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Under what scenarios will monies transmitted via Contribute-As-You-Earn (CAYE) bank mode be returned to the corporate service buyer?

An admin fee of $0.55 per transaction will be deducted from the gross service fees before the remainder is returned to the corporate service buyer if:

  1. the self-employed person (SEP)’s bank account is closed or invalid;
  2. the SEP’s NRIC is invalid; or
  3. the CPF submission number in the bank file is invalid.