Calls for employers to contribute 20% to employees' EPF will be discussed, says PM

PUTRAJAYA: Calls by workers for employers to contribute 20% towards the Employees Provident Fund (EPF) will be discussed, says Datuk Seri Anwar Ibrahim.

"We have received such a request but we have yet to discuss the matter.

ALSO READ: Workers' unions want higher employers' EPF contribution for those earning below RM4,001

"It will be brought to Cabinet for discussions," the Prime Minister told reporters after launching the Labour Day celebration at Putrajaya International Convention Centre (PICC) here on Monday (May 1).

Presently, employees contribute 11% of their monthly salary to the EPF while employers contribute another 12% or 13% of the salary, depending on the statutory contribution rate.

ALSO READ: Strategies to grow your wealth in 2023

Anwar was asked to comment on Union Network International-Malaysia Labour Centre (UNI-MLC) 12-point request, which included raising employers’ EPF contributions and the retirement age.

Its president Datuk Mohamed Shafie BP Mammal was reported to have said that employees wanted their request to be given priority.

ALSO READ: Calls for better financial preparedness

He said that some 15 million employees are facing a myriad of challenges that need to be addressed.

Earlier in his speech, Anwar said that he wanted employers and employees including government representatives to be able to hold talks among themselves in an amicable manner.

He said that he did not want to see tension arising with regards to talks to improve the welfare of employees.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Labour Day , Employers , Employees , EPF , Contributions


Next In Nation

RM16.89mil allocation shows youth development still a priority, says Sabah CM
New guidelines for campsite operators to be introduced in 2024, says Nga
Govt to revive town hall session to clarify issues raised in Auditor-General's Report
Two temporary flood relief centres in Johor closed, victims return home
Kemaman by-election: 12 Op Cantas teams deployed at hotspots to ensure smooth polling day, says state police chief
At least 10 govt MPs set to join Opposition, says Bersatu leader
Kemaman by-election: Voter turnout at 18pc as of 10am
Number of flood evacuees rises in Kelantan, drops in Johor
M’sian woman discovers over RM400mil mistakenly deposited in her bank account
69 undocumented migrants nabbed in raid at Pantai Dalam squatter settlement

Others Also Read