If you are a devout Muslim, nothing to regret.

Never really bothered with compounding effect unless the percentage is fixed. Do you really lose a lot by half a percentage a year?

Alternatively you can dump some extra money into ASB 1 since EPF hasn't outperform ASB 1 historically.

he said he wanted to find better investment to cover back the loss of dividend.

Speaking of which, he can also reroute his EPF money into ASB2, ASB3, and even ASM2 and ASM3, or other trust funds.

5.45% is ok, decent and reasonable with worldwide interest cut everywhere.

FD rate is also going down.

While, there many other unit trust also are also registering negative return instead of positive over the last few years, apart from US related and bond funds.

I don't pay more than 11%. But my company does. Hope they don't cut it lol

It is a because anything above 19% employer contribution will appear as taxable in your EA form. That's why normally it is up to 19% only.

some employee, like example, those that has no cash flow constraints, would like their "extra" income as tax free, and can help to increase their retirement fund

advantages for the company....incentives given to try to retain staffs are tax deductable........

employer's contributions to your EPF is tax free to your income....
employer's cash to you is tax able in your income

as mentioned by Wedchar...6k employee's contribution had been reduced for the tax reduction calculation.

Why wud an employer commit to a fix % epf contribution... knowing, the variable increment will spur you to maintain good performance?

You can still opt to 60k annual personal top up into Kwsp. Beyo d that, use borang 17a to increase monthly contribution.

It's don't involve employer...

Everything is from u.. outside from the monthly 11%

from this article
Reduction of Employee Contribution Rate
KUALA LUMPUR, 27 February 2020:  The Employees Provident Fund (EPF) takes note of the Government’s decision on the reduced minimum statutory contribution rate for employees, from 11 per cent to seven (7) per cent as announced today
.......................
Employees may choose to maintain the current contribution rate of 11 per cent by completing Notis Pilihan Mencarum Melebihi Kadar Berkanun KWSP 17A (Khas) which is available on epf.gov.my.
This notice must be presented to employers to be submitted to the EPF. 

https://www.kwsp.gov.my/-/reduction-of-empl...ribution-rate-1

Who fork out the extra 12k?

now i want to change it to;
11k + 12K epf self contribution
12k company  epf contribution
65k salary

just increase your self contribution.  no need to trouble the HR.

He may want to reduce gross income and eventually taxable income.

  you end up paying less income tax
  the money you saved in the EPF thru yr employer are tax free,
if you do your own self contribution...you money are taxed before you do the self contribution...

Sure why not if you run the company yourself,
Or If the Company is  willing to help, HR just submit a form to KWSP and increased  employer portion to 19%
and  reduced  your salary accordingly, nett you draw same amount from Co,
just that you take home cash lower and more in KWSP. u gain pay lower tax, company no loss also.
When i ran my own company, i  put my employer KWSP portion 25% for myself, and sleepy accountant  without realising it
claimed that full 25% from tax. Actually Co can only claim tax relief to max 19% of staff salary. any extra  Company lose out as it cannot deduct from company profit.