Epf Employer Contribution Rate 2016

One of the key highlights in the recent budget 2016 recalibration announced by the prime minister datuk seri najib tun razak was the reduction of the employees contribution rate for the employee s provident fund epf by 3.

Epf employer contribution rate 2016. Employee epf contribution rm 6600 8 rm 528 note. The latest contribution rate for employees and employers effective january 2019 salary wage can be referred in thethird schedule. Apply jointly to contribute cpf at higher rates for 1st 2nd year singapore permanent resident spr p form jap 94 p p this form is for employers who have signed up for eservice in the corppass portal. 15000 the employee can pay at a higher rate and in such case employer is not under any obligation to pay at such higher rate.

Effective from 1 mac 2016 to december 2017. Your mandatory contribution is calculated based on your monthly salary as an employee in accordance with the contribution rate third schedule monthly contributions are made up of the employee s and employer s share which is paid by the employer through various methods available to them. Employees provident fund contribution rate. To pay contribution on higher wages a joint request from employee and employer is required para 26 6 of epf scheme.

Employee type contribution rates from 1 jan 2016 graduated employer graduated employee rates for. A series of legislative interventions were made in this direction including the employees provident funds miscellaneous provisions act 1952. Private sector employees public sector non pensionable employees working in statutory boards and aided schools first year of obtaining spr status pdf 0 1 mb second year of obtaining spr status pdf 0 1 mb full employer graduated employee rates. Provident fund epf announces the reduction in the employees monthly statutory contribution rate from 11 to 8 for members below age 60 and 5 5 to 4 for those age 60 and above effective march 2016 until december 2017 salary.

Under epf the contributions are payable on maximum wage ceiling of rs. The epf mp act 1952 was enacted by parliament and came into force with effect from 4th march 1952. Reduction in employees epf statutory contribution rate 2016 the epf board malaysia has announce a decrease of employee contribution rate from 11 to 8 while for senior citizen it will be changed from 5 5 to 4. 2274897 2274897 lc.