Epf Contribution Rate Table

Cpf contribution and allocation rates p cpf contributions are payable at the prevailing cpf contribution rates for your employees who are singapore citizens and singapore permanent residents spr p.

Epf contribution rate table. 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. Third schedule subsection 43 1 rate of monthly contribution part a the rate of monthly contribution specified in this part shall apply to a employees who are malaysian citizens. 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. 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.

The 7 contribution rate will take effect from 1st april 2020 until the end of 2020 and it will be applicable to all epf members under 60 years of age that are subject to statutory contribution. The employees provident fund act 1991 is amended by substituting for the third schedule the following schedule. For employees who receive wages salary exceeding rm5 000 the employee s contribution of 11 remains while the employer s contribution is 12. Under epf the contributions are payable on maximum wage ceiling of rs.

Cpf contribution for employees. 15000 the employee can pay at a higher rate and in such case employer is not under any obligation to pay at such higher rate. To pay contribution on higher wages a joint request from employee and employer is required para 26 6 of epf scheme. The epf receives and manages retirement savings for all its members encompassing mandatory contributions by employees of the private and non pensionable public sectors as well as voluntary contributions by those in the informal sector.

Employers are required to remit epf contributions based on this schedule. Cpf contribution for employees p your employer is required to pay your cpf contributions every month if you earn more than 50 per month.