Dive into articles dedicated to EPF (Employees Provident Fund), Malaysia's premier retirement savings scheme. From enrollment procedures to contribution calculations.
What is the EPF?
Overview The Employees’ Provident Fund (known by its acronym EPF, or KWSP in Malay) is a Malaysian government agency that manages a compulsory savings plan and retirement planning for private and non-pensionable public sector employees. The EPF functions through monthly contributions from employees and their employers towards saving accounts. While in savings these funds may […]
What are the contribution rates for EPF?
Under EPF rules, both employee and employer contributions are payable. Employee contributions are deducted from the employee’s salary and paid to KWSP together with the employer contributions. Although the contribution rates are usually featured as a percentage of the salary subject to EPF, the percentage is approximate and the actual contributions must be taken from […]
Which payments are subject to EPF contribution and which are exempted?
Payments Subject to EPF Contribution In general, all monetary payments that are meant to be wages are subject to EPF contribution. These include: Salaries Payments for unutilized annual or medical leave Bonuses Allowances (except a few, see below) Commissions Incentives Arrears of wages Wages for maternity leave Wages for study leave Wages for half day leave […]
How do I pay EPF?
EPF submission and payment can be made either via e-Caruman or online banking. For payment via e-Caruman, you are required to have an account with KWSP i-Akaun. Meanwhile for online banking, you will need to upload the EPF payment bank file via your bank portal. For PayrollPanda users, files for both EPF submission methods can […]
How to submit the EPF (CSV) file through i-Akaun?
Once your payroll is submitted in your PayrollPanda account, the EPF file (EPF_iAkaun.csv) will be among the downloadable files and can be uploaded to your i-Akaun to submit contribution details (form A) to KWSP. Login to your employer i-Akaun. 1. Use the employer EPF number as your User ID and your password to login. 2. On […]
