 |
| KWSP form: ck5354 |
If you wish to maintain at 11%, you need to fill in the form called:
Mencarum Melebihi Kadar Berkanun (Pekerja)
You can download the form with link as follows:
https://www.kwsp.gov.my/documents/20126/140858/KWSP_17A_AHL.pdf/b5132e71-7721-fec7-eaac-5e3e52cc122e
For other forms, link as follows:
I will definitely choose to maintain at 11%.
What about you???
News about this measure:
THE government has reduced the minimum statutory contribution rate for employees from 11% to 7% to spur the economy impacted by the deadly coronavirus outbreak.
According to the Employees’ Provident Fund (EPF), the rate will be effective this April.
“The new rate will be effective starting April 1, 2020, until the end of the year and affects members below age 60. For those aged 60 and above, the employees’ share of the contribution rate will remain at 0%,” it said.
The stimulus package was announced by interim Prime Minister Tun Dr Mahathir Mohamad in Putrajaya yesterday.
The EPF said employees could also opt to remain at their current contribution of 11% by completing a special form available on its website which must be presented to employers to be submitted to the EPF.
Currently, employees contribute 11% of their salary to the fund, while employers must put in a minimum of 12% for salaries more than RM5,000 and 13% for salaries lower than that.
For employees above the age of 60, the minimum employers’ share of EPF statutory contribution rate is 4%, while the employees’ share of the contribution rate is 0%.