Hansel,

I think you're like me right now. I contribute to my own EPF fund using my own fund, maxing out to the limit (60k/year).  I don't intend to withdraw either even till past 55 unless my financial situation changes or I decided to retire early (before 60) or there are some major change in the EPF ruling. My intention of EPF is to use it for our (spouse and myself) future retirement or spending only in Malaysia - which are years down the road. I can't find any risk-free FD-like fund that can beat EPF at the moment, so putting money in EPF is ok with me.

Furthermore, with the low ringgit value this year, I got 15%-20% discount after converting to Ringgit to fund the account. 

Based on my understanding, RM60k is for everyone regardless whether contributor is salary earner or not

It is for everyone. Say if you and your employer contributed 40K for this year. So, you've 20K left to max out for yourself with your own personal money.

Its 60k and not included normal salary based contribution. In your example it should be 40k plus extra 60k.

Don't forget to give us an update what you've find out. Is it 60k max (total) or 60k per individual own contribution (not counting employer's part - as per magika).

I think it is 60k total if I read the ruling correctly but I could be wrong too. 

Technically, EPF guidelines says cannot, however counter staff and hotline CS says can. Quite a number of us at FD threads has done it for a number of years. I max out together with my wife every year. I m sure dividend are paid as i have calculated it at every payout. Hope you dont pursue it further as it may close the loophole.