EPf Contribution Table 2023

EPf Contribution Table 2023:

What is the meaning epf contribution? The Employee Provident Fund (EPF) is a statutory body that plays a role in providing retirement benefits to individuals serving in the private sector and the non-pension government sector. It was established under the Ministry of Finance of Malaysia. The Employee Provident Act of 1991 obliges employers and employees to make EPF contributions as savings funds for old days, which are one of the retirement benefits.

EPF contributions are a monthly payment of employee and employer income to the EPF Legislative Body.

This contribution will be credited into the member’s savings account for future withdrawals. The EPF will ensure that the contributions of the EPF members are secure and used for investment to generate the country’s economy.

An efficient system is provided by the EPF to make it easier for every employee and employer to contribute their contributions to an “i-Akaun”.

What Is The EPF Contribution Table 2023 For Malaysia

This EPF contribution is an obligation to be carried out by all workers and employers in Malaysia, especially individuals who serve in the private sector.

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By April 2023, the EPF has established a compulsory contribution rate to be performed by contributors for the year 2023 as follows:

• STAGE 1: Below 60 Years old
• STAGE 2: Age 60 And above

STATUS	SALARY	STAGE 1	STAGE 2
Malaysian Permanent Residents (PR) Non-Malaysians (registered as member before 1 August 1998)	No limit		Applicable for (i) only  Employees share: 0% Employer’s share: 4%
	RM5,000 and below	Employees share: 11% Employer’s share: 13%	Applicable for (ii) and (iii) only Employees share: 5.5% Employer’s share: 6.5%
	More than RM5,000	Employees share: 11% Employer’s share: 12%	Applicable for (ii) and (iii) only Employees share: 5.5% Employer’s share: 6%
Non-Malaysians (registered as member from 1 August 1998)	No limit	Employees share: 11% Employer’s share: RM5.00	Employees share: 5.5% Employer’s share: RM5.00

How Much Is The EPF Contribution Table 2023 By Salary

Employers and employees can also refer to the Monthly Contribution Rate (Third Schedule) at https://www.kwsp.gov.my  to find out the rate of disbursement to be paid based on income generated each month.

Here’s the list of contributions that need to be made according to the average monthly salary rate:

SALARY	EMPLOYER CONTRIBUTION	EMPLOYEE CONTRIBUTION	AVERAGE MONTHLY CONTRIBUTION
RM1000	RM130	RM90	RM220
RM1200	RM156	RM108	RM264
RM1500	RM195	RM135	RM330
RM2000	RM260	RM180	RM440
RM2500	RM325	RM225	RM550
RM3000	RM390	RM270	RM660
RM3500	RM455	RM315	RM770
RM4000	RM520	RM360	RM880
RM4500	RM585	RM405	RM990
RM5000	RM650	RM450	RM1100
RM6000	RM720	RM540	RM1260

How Do I Contribute To EPF Each Month

Every month, the employer is obliged to make contributions for himself and his employees. The contribution charged by EPF is 13% for employers and 11% for employees.

This must be done before or on the 15th of each month in order to avoid any penalty from the EPF.

Employers can make monthly contributions through the “i-Akaun”. In the i-Akaun, the employer must select “Caruman” to make contributions, as shown in Figure 1.0.

Employers must choose the month of contribution they want to make to avoid any delays and penalties imposed by the EPF.

After clicking on the “Next” button, the employer must fill in the employee details and make payment for the contribution in that month and the following month (if necessary).

All contribution data can be accessed in this “i-Akaun” system as a reference.

How To Check EPF Contribution

Each EPF member will have two (2) accounts, namely Account 1 and Account 2. Contributions performed by EPF members will be credited to both accounts.

EPF members can check their monthly contributions through the official portal of i-Akaun (Ahli) and i-Akaun (Majikan).

Therefore, these contributions will be displayed in the EPF’s contribution statement. A review of EPF contributions on a monthly basis can be done online by looking at the statement.

This statement can be accessed online through the i-Akaun portal. Contribution transactions and withdrawals of contributions will be recorded in the statement. Figure 2.0 shows an example of the EPF member contribution statement.

Here are ways for employees or employers to log in to the i-Akaun account to find out their monthly contribution rate as an EPF member;

1. Log in to the i-Akaun. 
2. Click on the “Akaun Peribadi” or “Penyata Caruman” section. 
3. Then, click on the “Current Contributions” section to find out the monthly contribution amount. 
4. Finally, the EPF contribution list is displayed.

FAQ

What Happens To EPF After Leaving Job

The EPF account will remain active if the contributor continues to perform monthly contributions, either by the employer or the employee themselves.

Thus, an EPF account will remain available if and only if the employee resigns from his or her job as long as he or she does not reach the retirement age, i.e., at the age of 60 years or over.

However, if an individual has stopped working and has stopped making EPF contributions for more than three (3) consecutive years, their account will become inoperative, irrespective of their retirement age.

Member accounts will also not earn any interest after 3 years of not making any contributions.

Do I Need To Inform Epf If Staff Resign

It’s normal for a company to hire and terminate employees. Nevertheless, employers must notify the EPF about their workers’ dismissals, either temporarily or permanently.

This is intended to avoid employers being penalized for delays or defaults in making monthly contributions.

This notice is to allow the EPF to update and cancel the employer reference number if the employer no longer hires the employee.

This notification can be made by the employer through e-mail or a letter stating the resignation of the staff.