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KUALA LUMPUR: The Employee Provident Fund (EPF) has announced the criteria and details on i-Sinar’s retirement facility, which has been further expanded to cover some eight million eligible taxpayers.
In a statement today, he said eligible taxpayers fall into two categories.
The first category encompasses taxpayers employed in the formal economy or concert sectors; those who are self-employed or have not contributed for a long time; Housewives; as well as those who have lost their job or taken leave without pay.
According to the EPF, members who have not contributed for at least two consecutive months or more at the time of application, or those who are still employed but face base salary cuts of 30 percent or more after March 1 of this year are eligible to apply for installation.
“Those in this category do not have to provide supporting documents as approval is automatic based on internal EPF data.
“They only need to apply online through isinar.kwsp.gov.my starting December 21, 2020,” he said, adding that payments would be made from mid-January next year.
The second category comprises members who are still employed but who face a reduction of 30 percent or more of their total income, which includes wages, allowance and overtime pay, after March 1 of this year, which is only You can verify using supporting documents.
“To facilitate the verification process, EPF will require supporting documents from applicants, that is, receipt of payment indicating the reduction of the previous and subsequent payment, notice of leave without pay or notice of termination / reduction of subsidy and / or overtime claims.
“If the documents are not available, EPF will consider other relevant supporting documents like bank statements or confirmation letters from employers,” he said, adding that those who fall into this category can submit their application online via isinar.kwsp .gov.my starting January 11 of next year.
The EPF said members can check the status of their application within two to three weeks after it is submitted, and payments to selected applicants will be made before the end of the following month.
He said that members with 100,000 ringgit or less in their account 1 can withdraw up to 10,000 ringgit.
Payments will be made to applicants in stages over a maximum period of six months, with a first withdrawal of up to RM5,000.
Meanwhile, those with more than RM100,000 in their Account 1 can make a maximum withdrawal of 10 percent of the amount in their account, or RM60,000 (whichever is less).
Staggered payments will be made to applicants for a maximum period of six months, with a first withdrawal of up to RM10,000, it said. -Called
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