Release Note - version 2.11.0

Release Date:  26th December 2025

Version: 2.11

Introduction

This document outlines the new enhancements in Financio Payroll for release version 2.11

Compliance Updates (Singapore)

Compliance #1 – CPF Ordinary Wage Ceiling

• Effective from 1 January 2026, the CPF ordinary wage ceiling will be increased from $7,400 to $8,000.

Compliance #2 – CPF Contribution Rate for Ages 55 to 65

• Starting from January 1, 2026, the CPF contribution rates for employees aged between 55 and 65 will be increased to enhance their retirement savings. These changes will apply to wages earned from January 1, 2026, onwards.

Compliance #3 – Auto-Inclusion Scheme (AIS) for Employment Income Update

• To validate your submission data before the actual submission to IRAS, you can tick the “Submit for Validate Only” checkbox. The system will then perform a validation test and return an error message if there is any incomplete information.
• Once the validation is successful and no errors are found, you can untick this checkbox and proceed with the actual submission.

Compliance Updates (Malaysia)

Compliance #4 – Employee Personal Info Update for EPF

• A new field, “Permanent Resident” has been added into Employee Personal Info to differentiate permanent resident and non-permanent resident in EPF calculation for foreign employees:
  • When Permanent Resident = Yes, EPF is calculate based on Third Schedule Part A or Part C.
  • When Permanent Resident = No, EPF is calculate based on Third Schedule Part F.

• As the payroll admin, you are required to review all the foreign employee records to ensure the correct calculation.

  Notes: The “Residence Status” field will remain for tax residence settings for foreign employees, for example:

  • When Residence Status = Resident, tax is calculated similar to the local resident rate.
  • When Residence Status = Non-resident, tax is calculated as the foreign employee rate.

Compliance #5 – Enhancement on Form A

• In this release, users are able to classify employees according to different employer EPF account numbers.
• A new field Employer EPF Account has been introduced in the Employee Statutory Information screen.
• This enhancement allows users to select the employer’s EPF account number for reporting purposes.
• The feature ensures more accurate statutory reporting by linking employees to the correct employer EPF account.