Epf Contribution Table For Age Above 60 2018

Meanwhile the employees share of contribution for this age group is set at zero the epf said in a statement today.

Epf contribution table for age above 60 2018. Kuala lumpur jan 7. Workers above 60 to 65 receive a 16 5 contribution rate with employers. The minimum statutory contribution by employers to malaysia s employees provident fund epf for employees aged above 60 will be reduced to 4 per month down from the previous 6. Effective from january 2018 the employees monthly statutory contribution rates will be reverted from the current 8 to the original 11 for employees below the age of 60 and from 4 to 5 5 for those aged 60 and above.

At the same time the employees share of minimum contribution rate has been reduced to 0 down from the previous 5 5 this was announced by the epf also known as kwsp kumpulan wang simpanan pekerja on 7. But workers above 55 to 60 see a cpf contribution rate of 26 per cent of wages with employers contributing 13 per cent. The new minimum statutory rates proposed in budget 2019 are effective this month for the. The employees provident fund epf has reduced the statutory contribution rate for employees above age 60 who are liable to contribute.

The employees provident fund epf announced that the minimum employers share of epf statutory contribution rate for employees above age 60 who are liable to contribute will be reduced to 4 per month while the employees share of contribution rate will be 0. The minimum employers share of the employees provident fund epf statutory contribution rate for employees aged 60 and above has been reduced to 4 per month. Employers may deduct the employee s share from their salary. Therefore the contribution month is february 2018 and it has to be paid either before or on 15 february 2018.