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.

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