Employer Contribution To Epf

From the employer s epf contribution 8 33 per cent goes towards the employee pension scheme eps and the remaining to the pf. As an employer your responsibilities includes paying epf contributions in respect of any person you have engaged to work under a contract of service or apprenticeship. A matching sum is contributed to the provident fund by the employer.

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The epf has previously extended the contribution payment dates for april to august which was aimed at alleviating the burden of employers due to the uncertainties caused by the covid 19 pandemic.

Employer contribution to epf. Kuala lumpur sept 7 the employees provident fund epf will be extending the date for employers to remit their mandatory contribution for the months of september to december this year from the 15th of the month to the 30th of each month respectively. Employer s contribution to epf is 10 or 12 you will receive interest at the rate of 8 65 on epf employee provident fund epf is a scheme in which you as an employee at a government or private organisation can create wealth through your working years. This fund so deposited across the career of individual acts as savings meant to meet one s post retirement financial expenditures. Employers may remit their mandatory contribution for september to december this year from the 15th of the month to the 30th of each month respectively.

The employees provident fund epf will be extending the date for employers to remit their mandatory contribution for the months of september to december this year from the 15th of the month to the 30th of each month respectively the epf has previously extended the contribution payment date for april to august which was aimed to alleviate the burden of employers due to the uncertainties. Thus employers will save money due to 2 reduction in their contribution to epf. The employees provident fund. Epf or employee provident fund is a scheme that accumulates equal contributions from both the employee and his her employer preferably to save a substantial amount over the employment tenor.

The decision to pursue this flexibility is in line with the government s recent announcement to extend the recovery movement control order until dec. Epf employers mandatory contribution covid 19. You have to ensure accurate monthly contributions are deducted from your employees salary and remitted to epf. The government has reduced both employer and employee contribution to the latter s epf account from 12 of employee s salary to 10 for next 3 months as part of its coronavirus relief measures.