Epf Contribution Rate Table

The 7 contribution rate will take effect from 1st april 2020 until the end of 2020 and it will be applicable to all epf members under 60 years of age that are subject to statutory contribution.

Epf contribution rate table. The epf receives and manages retirement savings for all its members encompassing mandatory contributions by employees of the private and non pensionable public sectors as well as voluntary contributions by those in the informal sector. The latest contribution rate for employees and employers effective january 2019 salary wage can be referred in the third schedule epf act 1991 click to download. Employees provident fund scheme eps 1952. The existing contribution rate was 12 in some cases 10 as maybe notified by government which has been reduced to 10 by the government.

The minimum employee contribution rate for the employees provident fund epf will be set at 9 starting from january 2021 for a period of 12 months. For employees who receive wages salary of rm5 000 and below the portion of employee s contribution is 11 of their monthly salary while the employer contributes 13. Monthly contribution rate third schedule the latest contribution rate for employees and employers effective january 2019 salary wage can be referred in thethird schedule epf act 1991 employers are required to remit epf contributions based on this schedule. 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.

The announcement was made by finance minister tengku zafrul aziz today during the tabling of budget 2021. Employees deposit linked insurance scheme edils 1976. Under epf the contributions are payable on maximum wage ceiling of rs. For members aged 60 years and above the employees share of contribution rate will remain at 0.

Employers are required to remit epf contributions based on this schedule. For employees who receive wages salary exceeding rm5 000 the employee s contribution of 11 remains while the employer s contribution is 12. Minimum employers share of epf statutory contribution rate for employees above age 60 who are liable to contribute will be reduced to 4 per month while the employees share of contribution rate will be 0.