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Are CPF contributions payable on Supplementary Retirement Scheme (SRS) allowance if I deposit directly into my employee's SRS account?

CPF contributions are payable on Supplementary Retirement Scheme (SRS) allowance as it can be accessed by your employee any time (with a 5% penalty for early withdrawal).

The CPF treatment is the same regardless of whether it is deposited directly into your employee's SRS account or you pay to him in cash.