2. The First Schedule to the Central Provident Fund (Statutory Bodies and Aided Schools — Employees) Regulations 2002 (G.N. No. S 520/2002) is amended —| (a) | by deleting paragraphs 1 to 9 and substituting the following paragraphs:| “1. Subject to this Schedule, with effect from 1st January 2004, the contributions payable by the employer and the amount recoverable from the pensionable employee’s wages are as follows: |
| 2. Subject to this Schedule, with effect from 1st January 2004, the contributions payable by the employer (at full rates) and the amount recoverable from the pensionable employee’s wages (at graduated rates) during the first year after the pensionable employee becomes a permanent resident are as follows: |
| 3. Subject to this Schedule, with effect from 1st January 2004, the contributions payable by the employer (at full rates) and the amount recoverable from the pensionable employee’s wages (at graduated rates) during the second year after the pensionable employee becomes a permanent resident are as follows: |
| 4. Subject to this Schedule, with effect from 1st January 2004, the contributions payable by the employer (at graduated rates) and the amount recoverable from the pensionable employee’s wages (at graduated rates) during the first year after the pensionable employee becomes a permanent resident are as follows: |
| 5. Subject to this Schedule, with effect from 1st January 2004, the contributions payable by the employer (at graduated rates) and the amount recoverable from the pensionable employee’s wages (at graduated rates) during the second year after the pensionable employee becomes a permanent resident are as follows: |
6. Where an employee was in the employment of the employer in the month of October 1984 and the amount of his ordinary wages payable under the contract of service for that month was more than $9,333, the maximum contributions payable by the employer in respect of such employee shall, unless the employee notifies his employer that he wants the maximum contributions specified in paragraph 1, be as follows:| (a) | under item (a)(i) in column (1) of paragraph 1, instead of $780, 9.75% of the wages of the employee for that month; | | (b) | under item (a)(i) in column (3) of paragraph 1, instead of $360, 4.5% of the wages of the employee for that month; | | (c) | under item (a)(i) in column (5) of paragraph 1, instead of $210, 2.625% of the wages of the employee for that month; or | | (d) | under item (a)(i) in column (7) of paragraph 1, instead of $210, 2.625% of the wages of the employee for that month. |
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| 7. No contributions shall be payable by an employer on the additional wages in a year which are in excess of $93,500 less the amount of ordinary wages for that year. |
8. Where the additional wages of an employee are paid at any time before the relevant time and before the amount of his ordinary wages for that year is computed, no contributions shall be payable by an employer on the additional wages which are in excess of an amount computed in either of the following ways, at the option of the employer:| (a) | $93,500 less —| (i) | the amount of ordinary wages of the employee for the preceding year; and | | (ii) | the additional wages of the employee already paid for the current year; or |
| | (b) | $93,500 less —| (i) | the amount of ordinary wages the employer expects to pay the employee for the current year; and | | (ii) | the additional wages of the employee already paid for the current year. |
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9.—(1) Where the contributions on additional wages for any year have been paid at any time before the relevant time and before the amount of ordinary wages for that year is computed, the amount of contributions payable on the additional wages for that year shall be recomputed at the relevant time, subject to the limit in paragraph 7.| (2) Where the contributions on additional wages recomputed under sub-paragraph (1) exceeds the contributions already paid on additional wages for that year, the employer shall contribute the difference to the Fund at the relevant time, subject to the limit in paragraph 7. |
| (3) Where the employer is required to make additional contributions under sub-paragraph (2), he shall be entitled to recover from the employee’s wages, at the rate of recovery for additional wages applicable to the employee, the amount of additional contributions paid by the employer under that sub-paragraph. |
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| 9A. In computing the ordinary wages for a year or a preceding year for the purposes of paragraphs 7, 8 and 9, the amount of ordinary wages for any month which is in excess of $5,500 shall be disregarded.”. |
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| | (b) | by deleting the words “paragraphs 7, 8 and 9” in paragraph 10(5) and substituting the words “paragraphs 7, 8, 9 and 9A”; and | | (c) | by deleting sub-paragraph (h) of paragraph 11 and substituting the following sub-paragraph:| “(h) | “relevant time” means the end of the current year or the last month of the employee’s employment with that employer, as the case may be; and”. |
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