In addition to salaries, you will need to contribute towards your employees' Central Provident Fund (CPF) accounts if they are Singaporean citizens or Permanent Residents. The CPF is a compulsory social security savings scheme that employers and employees contribute to. It is applicable only to Singapore citizens and Permanent Residents. Click here for more FAQs on CPF.
The current rate for employer's contribution for employees aged 50 and below is at 16%. The employer's contribution is capped at SGD 5,000 of the employee's salary. Medical benefits are at the discretion of the employer, although insurance might be compulsory for certain high-risk occupations. Click here for more information of employers' contribution rates for different age groups.