Payslip Template Singapore (Free Excel Download)

Singapore Payslip Template (Free Excel Download)

A ready-to-use payslip template for Singapore employers, with the country's statutory CPF lines built in: employee and employer contributions calculated on Ordinary Wages up to the monthly ceiling, split across the Ordinary, Special and MediSave accounts. Copy it into Excel or Google Sheets and it is ready for your monthly payroll run.

How to Use This Template

1. Fill in the employer and employee header fields once — they stay the same every month.
2. Enter gross monthly earnings (basic salary plus allowances, overtime and bonuses).
3. Apply the CPF employee and employer lines exactly as shown — the formulas are described beside each line.
4. Issue one copy to the employee and keep one for your payroll records.

Singapore Payslip Template

Employer: [Company Name] | UEN: [] Employee: [Full Name] | NRIC / FIN: [] Designation: [] | Employee ID: [] Pay Period: [Month / Year] | Payment Date: [DD/MM/YYYY]

Employer contributions (not deducted from employee):

Worked Example

Employee under 55, monthly gross salary: SGD 6,000 (all Ordinary Wages).

• CPF employee: 20% × 6,000 = SGD 1,200 (deducted)
• Net pay: 6,000 − 1,200 = SGD 4,800 (assuming no other deductions)
• CPF employer: 17% × 6,000 = SGD 1,020 (employer cost)
• Total employer cost: 6,000 + 1,020 = SGD 7,020 (17% on top of salary)

Note: unlike many countries, Singapore employers do not withhold income tax monthly — IRAS assesses personal income tax annually.

Statutory Notes for Singapore Payroll

• CPF applies to Singapore Citizens and Permanent Residents; foreign employees on work passes are not covered.
• For employees aged 55 and below the 2026 rates are 17% employer / 20% employee (37% total) on Ordinary Wages.
• Rates step down with age (55–60, 60–65, 65–70, above 70) — check the CPF Board's current age-band table for older employees.
• The Ordinary Wage ceiling is S$8,000 a month from 1 January 2026; a separate Additional Wage ceiling caps CPF on bonuses.
• CPF contributions are due on the last day of the month and must be paid by the 14th of the following month.
• Always verify current rates and ceilings with the CPF Board before each payroll year, as they change.

Pro Tips

• Print the employer share on the slip. Staff often don't realise the company pays 17% on top of their salary — printing it builds trust and reduces disputes.
• Watch the ceiling, not the salary. For anyone earning above S$8,000, CPF is calculated on S$8,000 — hard-coding a percentage of gross pay overstates the liability.
• Age bands switch mid-month. The new rate applies from the first day of the month after the employee's 55th, 60th, 65th or 70th birthday — payroll systems that switch on the birthday itself will be wrong.
• Separate Ordinary and Additional Wages. Bonuses use the annual Additional Wage ceiling, not the monthly one — mixing them is the most common manual-calculation error.
• File on time. Late CPF payment attracts interest — set the remittance to run before the 14th, not on it.

Frequently Asked Questions

Q1: What are the CPF rates on a Singapore payslip? A: For employees aged 55 and below in 2026: 20% deducted from the employee's Ordinary Wages and 17% paid by the employer, a combined 37%, on the first S$8,000 of monthly Ordinary Wages.

Q2: Is the employer's CPF contribution deducted from the employee's salary? A: No. The 17% employer share is paid on top of gross salary and never reduces take-home pay. Only the 20% employee share appears as a deduction.

Q3: Does CPF apply to foreign employees? A: No. CPF is mandatory only for Singapore Citizens and Permanent Residents. Foreign employees on work passes are not covered.

Q4: What is the difference between Ordinary Wages and Additional Wages? A: Ordinary Wages are the regular monthly salary components (basic, allowances, overtime). Additional Wages are one-off payments like bonuses, which are capped by a separate annual ceiling (S$102,000 minus Ordinary Wages subject to CPF).

Q5: Is income tax deducted on a Singapore payslip? A: No. Singapore employers do not withhold personal income tax monthly — IRAS assesses it annually, so it does not appear as a payslip deduction line.

Q6: When must CPF contributions be paid? A: Contributions are due on the last day of the month and must reach the CPF Board by the 14th of the following month; late payment attracts interest.