Tuesday, December 2, 2008

Forms For EPF Contribution At 11%

Quoted from EPF Website:

Members of the Employees Provident Fund (EPF) who wish to maintain the employee’s monthly contribution rate at 11 per cent from January 2009 wage may obtain Form KWSP 17A (AHL) Khas from all EPF branches or download it from myEPF website beginning 01-Dec-2008. Fully completed forms can be submitted to the members’ respective employers for onward submission to the EPF.

The EPF has also made available Form KWSP 17AA (AHL) Khas to facilitate employers who wish to apply on behalf of more than two employees.

Deputy Prime Minister and Finance Minister YAB Datuk Seri Najib Tun Abdul Razak recently announced the reduction of the employees’ monthly statutory contribution rate from 11 per cent to 8 per cent, effective from January 2009 wage for a period of two years. The measure is taken to help increase members’ disposable income given the current economic climate. The higher disposable income will in turn support domestic consumption and help sustain the momentum of positive economic growth.

In relation to reduction in the statutory contribution rate which will take effect from January 2009 wage to December 2010 wage, a new monthly contributions schedule has been issued. Members and employers may download the new schedule from their website or get the schedule from any of EPF branches nationwide.

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