From 1 February 2021, the default Direct Debit deduction date will be changed from the 14th day of the following month to 2 working days after the submission date.

This is to ensure that employers complete their payment quickly when they submit their CPF contributions after the due date (i.e. on the last day of the calendar month). Employers will still have the flexibility to choose their preferred deduction date. Please refer to the example below.

Companies are advised to ensure sufficient funds is maintained in the bank account for a successful deduction.

Source: CPF Board