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From NIK AFFENDI JAAFAR, Senior Manager, Public Relations, EPF.
In Malaysia, employers are required by law to contribute towards a compulsory savings scheme instituted by the Employees Provident Fund (EPF). However, with more than 350,000 employers registered with the EPF, ensuring this happens is not easy. Indeed, how does a social security organisation like the EPF uphold its duty to see to it that timely and regular contributions are made? How does it keep track of employer contributions? This article attempts to answer these questions.
A fortnightly collaboration between Starweekend and the Consumers Association of Penang (CAP).
The MTUC and Cuepacs have proposed that EPF contributions be divided into two accounts - one for retirement and the other for housing.
Travel for free, stay in top hotels, have your meals paid for and be your own boss. Most people#8217;s idea of a dream career is actually a job description for a tour guide.
The MTUC will support any move by the EPF which will bring back the original purpose of the creation of the fund, namely, to ensure adequate savings for retired people to live comfortably.
The call for the private sector to emulate the Government's 'golden handshake' retirement benefits has drawn contrasting responses from unions and employers, with the two parties adopting opposing stands.
It is inappropriate for sleeping partners or silent directors of companies to try to escape from being held accountable for Employees Provident Fund (EPF) contributions, a High Court judge said.
By V.K. CHIN
WE believe the budget is likely to be balanced and, for a pre-election/handover budget, prudent, says Joseph Tan, Standard Chartered's economist.