PETALING JAYA: Employees Provident Fund (EPF) members who wish to maintain their contribution at 11% next year can do so by informing the EPF starting Tuesday.
Members must complete Borang KWSP 17A (Khas 2021) which will be made available on the EPF website (www.kwsp.gov.my) on the same day.
The forms are to be forwarded to their employers who will then register the applications via i-Akaun (Employer) beginning Dec 14.
EPF said employers are required to keep the form received from their employees for their record.
“The new contribution rate will be in effect until December 2021 and applies to members below 60 years who are liable for contribution, ” said EPF in a statement.
“It affects wages for the months of January 2021 (February 2021’s contribution) up to December 2021 (January 2022’s contribution).
“For members aged 60 years old and above, their statutory contribution rate remains unchanged, ” it added.
For more information, employees and employers may refer to the EPF website or contact the EPF Contact Management Centre at 03-8922 6000.
Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz during the tabling of Budget 2021 said the employees’ statutory contribution rate to EPF would be reduced from 11% to 9%.
The reduction was meant to boost the disposable income of EPF contributors.
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