Epf Employer Contribution Rate 2019 Malaysia

The minimum statutory contribution by employers to malaysia s employees provident fund epf for employees aged above 60 will be reduced to 4 per month down from the previous 6. Currently employees contribute 11 of their salary to epf while employers must put in a minimum of 12 for salaries more than rm5 000 and 13 for salaries lower than that. At the same time the employees share of minimum contribution rate has been reduced to 0 down from the previous 5 5 this was announced by the epf also known as kwsp kumpulan wang simpanan pekerja on 7.

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The latest contribution rate for employees and employers effective january 2019 salary wage can be referred in the third schedule epf act 1991 click to download.

Epf employer contribution rate 2019 malaysia. The employees provident fund epf today announced that employers will from now make a minimum statutory contribution of 4 for employees above 60 years old against the present. The malaysian government has reduced the minimum employee contribution rate for the employees provident fund epf to 7 starting from april 1 in a bid to cushion the impact of the covid 19. Employees provident fund malaysia epf is a federal statutory body under the purview of the ministry of finance employees provident fund epf will allow education withdrawals for professional certificate programmes under budget 2020 every company is required to contribute epf calculator for its staff workers and to remit the contribution sum to kwsp before the 15th day of the following. Your mandatory contribution is calculated based on your monthly salary as an employee in accordance with the contribution rate third schedule monthly contributions are made up of the employee s and employer s share which is paid by the employer through various methods available to them.

Members of the employees provident fund epf earning a monthly wage of not exceeding rm5 000 will be receiving a boost in their retirement savings when the revised employers statutory contribution rate of 13 percent takes effect from january 2012 wages. Employers are required to remit epf contributions based on this schedule. For employees who receive wages salary exceeding rm5 000 the employee s contribution of 11 remains while the employer s contribution is 12. The minimum employers share of epf statutory contribution rate for employees above age 60 who are liable to contribute will be reduced to four 4 per cent per month while the employees share of contribution rate will be zero per cent.

Monthly contribution rate third schedule the latest contribution rate for employees and employers effective january 2019 salary wage can be referred in thethird schedule epf act 1991 employers are required to remit epf contributions based on this schedule.