Nov 7 2023, 09:27 AM
QUOTE(ronnie @ Nov 7 2023, 07:54 AM)
that's bad law actually hahahaha.... we lose 1 day dividend hahahha
Bruh not 1 day lah..employer deduct your EPF 27.2.23 for Feb salary
bank into EPF 10.3.23
EPF pay u 1 day dividen only for Mac 2023, you lost 32days dividend.
QUOTE(guy3288 @ Feb 9 2023, 06:08 PM)
This kind of interest lost is totally voluntary,
you only have yourself to blame if you lose it.
But the "forced" mandatory interest loss by all of us is more insidious
and more irritating as we don have a say at all.
EPF pretend inefficient , pay contributor only 1 Day interest
sakau our interest at least 15 days every month
If total contribution is RM7 billion a month
at 4% interest EPF sakau at least RM130 million contributors' money
over the years how much interest we have lost to EPF?
And this is not one off,
it is going on and on year after year
Employer must pay by 15th, give and take 5 days,
EPF should pay us 10days interest
not just 1 DAY every month.
you only have yourself to blame if you lose it.
But the "forced" mandatory interest loss by all of us is more insidious
and more irritating as we don have a say at all.
EPF pretend inefficient , pay contributor only 1 Day interest
sakau our interest at least 15 days every month
If total contribution is RM7 billion a month
at 4% interest EPF sakau at least RM130 million contributors' money
over the years how much interest we have lost to EPF?
And this is not one off,
it is going on and on year after year
Employer must pay by 15th, give and take 5 days,
EPF should pay us 10days interest
not just 1 DAY every month.
QUOTE(guy3288 @ Feb 10 2023, 08:38 AM)
This is wrong
You are making mum's effort to educate commonsense more difficult!
Doesnt matter which day of the month EPF received your money,
it pays only 1 DAY interest for that month
Eg Feb 2023 contribution -
EPF received RM60k from A on 1.2.2023, A only can get 1 day interest for Feb.
EPF received RM60k from B on 28.2.23 - B also get 1 day interest same
This is not called interest prorated daily
Prorated daily means A should get 28days interest
and B get only 1 day interest for Feb.
So for voluntary contribution, keep your money first in KDI
dont deposit early in the month, no point
If you manage to deposit as late in the month
but get it received by EPF end of month
you lose minimal interest to EPF
Now imagine our compulsory monthly contribution
EPF says must pay by 15th every month
If late kena penalty, most employers pay EPF on 10th each month
But EPF pays only 1 DAY interest for us for that month
EPF untung your interest for 15-20DAYS
Every month EPF receive new monthly contribution RM6-7 Billions
EPF untung 15-20 days from this huge amount
1 year EPF at least untung RM130 Million from this compulsory contributions alone!
You are making mum's effort to educate commonsense more difficult!
Doesnt matter which day of the month EPF received your money,
it pays only 1 DAY interest for that month
Eg Feb 2023 contribution -
EPF received RM60k from A on 1.2.2023, A only can get 1 day interest for Feb.
EPF received RM60k from B on 28.2.23 - B also get 1 day interest same
This is not called interest prorated daily
Prorated daily means A should get 28days interest
and B get only 1 day interest for Feb.
So for voluntary contribution, keep your money first in KDI
dont deposit early in the month, no point
If you manage to deposit as late in the month
but get it received by EPF end of month
you lose minimal interest to EPF
Now imagine our compulsory monthly contribution
EPF says must pay by 15th every month
If late kena penalty, most employers pay EPF on 10th each month
But EPF pays only 1 DAY interest for us for that month
EPF untung your interest for 15-20DAYS
Every month EPF receive new monthly contribution RM6-7 Billions
EPF untung 15-20 days from this huge amount
1 year EPF at least untung RM130 Million from this compulsory contributions alone!
Quote
bravo.
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