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PETALING JAYA: Members of the Employee Provident Fund (EPF) who wish to maintain their contribution at 11% next year can do so by informing the EPF starting Tuesday.
Members must complete Borang KWSP 17A (Khas 2021) which will be available on the EPF website (www.kwsp.gov.my) the same day.
The forms should be sent to your employers, who will then register the applications through i-Akaun (Employer) starting December 14.
EPF said employers should keep the form received from their employees for their records.
“The new contribution rate will be in effect until December 2021 and applies to members under the age of 60 who are responsible for the contribution,” EPF said in a statement.
“It affects wages for the months of January 2021 (contribution from February 2021) until December 2021 (contribution from January 2022).
“For members age 60 and over, their statutory contribution rate remains unchanged,” he added.
For more information, employees and employers can check the EPF website or contact the EPF Contact Management Center at 03-8922 6000.
Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, during the presentation of the 2021 budget, said that the rate of legal contribution of employees to the EPF would be reduced from 11% to 9%.
The reduction was intended to boost the disposable income of EPF taxpayers.
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