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PETALING JAYA: Starting January 2021, the employee’s share of the statutory contribution rate will be reduced from 11% to 9%.
In a statement on Saturday (November 28), the Employees Provident Fund said the new statutory contribution rate will be in effect until December 2021, adding that it applies only to members under the age of 60 who are responsible for the contribution.
“For members age 60 and over, the statutory contribution rate for employees remains unchanged. The new rates will be in effect for an entire year and will affect wages for the months of January 2021 through December 2021,” he said.
Members who wish to keep the contribution rate for employees at 11% must complete the Borang KWSP 17A (Khas 2021) form, which will be available on the EPF website (www.kwsp.gov.my) from 1 from December.
“The completed form must be submitted to their respective employers for online registration through i-Akaun (Employer), which will start from December 14, 2020,” he said, adding that employers should also keep the received form. for registration. .
For more information, members can consult the EPF website or contact the EPF Contact Management Center at 03-8922 600.
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