Mar 4, 2020 1 min read

EPF Contributions Rate Reduced in Malaysia

Article Navigation

Malaysia – Employees’ Provident Fund (EPF) employee contribution rate reduced to 7% due to the Coronavirus outbreak.
Mercans has alerted its Malaysia payroll outsourcing clients in a bid to soften the financial impact of Coronavirus (COVID-19), the Malaysian government has reduced the minimum employee contribution rate for the Employees’ Provident Fund (EPF) to 7% starting from April 1 2020. The new rate will be effective until the end of 2020 and affects members below age 60. For those aged 60 and above, the employees’ share of the contribution rate will remain at zero percent.

Employees may choose to maintain the current contribution rate of 11% by completing Notis Pilihan Mencarum Melebihi Kadar Berkanun KWSP 17A (Khas), which is available at epf.gov.my. This notice must be presented to employers for submission to the EPF.

Mercans Recommend

View PDF

EPF Contributions Rate Reduced in Malaysia
Size

835.73 KB

Article Navigation

Most viewed posts

View all posts

Avasant Selects Mercans as a Leader in Payroll Business Process Tra...

The meticulous research methodology employed by Avasant included analyzing publicly available information like SEC filings, annual reports, and executive interviews, along with engaging in discussions and market interactions.

Dec 22, 2023 4 min read

Global BPO Leader Infosys Selects Mercans’ Payroll Tech to Power i...

This partnership brings together Mercans' disruptive payroll tech and Infosys' consulting and BPO capabilities to create the most tech advanced and operationally resilient global payroll offering.

Sep 26, 2023 3 min read

Mercans: A Leader in Global Managed Payroll – ISG Provider Lens™ 2023

Payroll solutions and services study meticulously assessed 36 vendors across three distinct quadrants, and Mercans proudly emerged as a frontrunner.

Nov 9, 2023 2 min read