Calculating Mandatory Provident Fund Earnings
Not all earnings are included in Mandatory Provident Fund (MPF) calculations. Earnings that are included in the MPF calculation are considered relevant income and include wages, salaries, leave pay, fees, commissions, bonuses, and gratuities. Examples of earnings that are excluded from MPF calculations are severance payments and long service leave payments. The following earnings are included as relevant earnings in MPF calculations:
|
Name of Earning |
Description |
|---|---|
|
BASSAL |
Basic salary |
|
OT1.5 |
Overtime 1.5 × |
|
OTFIX |
Overtime fix |
|
SHNT1.3 |
SHIFT1.3 × |
|
SHNTFIX |
Shift fix |
|
GRA |
Gratuity |
|
13MTHPAY |
Thirteenth month pay |
|
TYPHOON |
Typhoon allowance |
|
BLCKRAIN |
Black rain allowance |
|
MOBILE |
Mobile and pager allowance |
|
BASHLY |
Basic hourly salary |
|
HSING |
Housing allowance |
|
HOLIDAY PAY |
Holiday allowance |
|
ANN LVE PAY |
Annual leave pay |
|
SCK LVE PAY |
Sick leave pay |
|
MLV LVE PAY |
Maternity leave allowance |
|
HOL PAY NEG |
Negative holiday pay |
|
SICK PAY NEG |
Negative sickness allowance |
|
MAT PAY NEG |
Negative maternity pay |
|
ANN PAY NEG |
Negative annual leave pay |
These earnings are included in the monthly accumulator MPF AC REVLNT INCM that is based on the pay period end date and the user key of EmplID (employee identification).