Not the right time, say bosses

According to the law: Under the current EPF schedule of contribution, the employer’s contribution is at 13% for those earning RM5,000 and below and 12% for those earning above RM5,000. — IZZRAFIQ ALIAS/The Star

PETALING JAYA: With the weakened ringgit having an impact on the cost of business, employers are not ready to incur more costs and that includes considering calls to increase their share of Employees Provident Fund (EPF) contribution to 20%.

Federation of Malaysian Manufacturers (FMM) president Tan Sri Soh Thian Lai said global inflation had already impacted the cost of imported inputs for manufacturers.