Are you saying if I contribute last day of the month, EPF will calculate based on last day balance?

Thought EPF will have certain formula to calculate coz the balance will vary depending on when a person or company put in the contribution? Or I misunderstand the whole message?

With the latest CPI number at 2.8% which is below most analysts expectation of around 3%, the chance of OPR hike until GST being implemented now become remote.

Yup, does not matter what day contribution went in, will start calculation from last day of the month. On a safer note deposit a few days before end of month.

Hopefully dont end up like Japan, go into recession , lots of people will queue up at 14 floor.
Its already beginning, RON95 and Diesel no more subsidy from 1 Dec 2014.


This post has been edited by magika: Nov 21 2014, 03:37 PM

when u mention Japan, I can't help but think about the scary shit situation they are in...

Learn from Japan’s tax folly and defer GST, says DAP lawmaker

and

have a look at their time deposit rates - they probably do all their trx online; at these rates, taking the subway to the bank might wipe out whatever interest earned

re: stanchart's priority banking offer, better to go for the hsbc one imho - making the choice is like being given gula gula to choose between the devil and the deep blue sea... i'll pass

ps: what's that ref to the 14 floor? dun get it

This post has been edited by okuribito: Nov 21 2014, 04:02 PM

Thats for people heavily making losses to jump down from highrise building..

In my opinion, we need to lock in longer term deposits, as with the implementation of gst, there is bound to be lots of uncertainity.


This post has been edited by magika: Nov 21 2014, 04:41 PM

Alamak, all these while I thought it is COMPOUNDED DAILY. Always bank in early of the month, bodohnya aku !


Anyway, here is what I got from someone's blog (but dated 2010 la ) . I have highlighted in grey what I may have misinterpreted. Anyway to read the full write-up, http://imdavidlee.com/how-to-calculate-your-epf-dividend/

This post has been edited by michaelho: Nov 21 2014, 10:56 PM


Attached thumbnail(s)

Okay.. Thank You Ah Sir..I will calculate the interest rate later..


Somebody (I think Captain) reported that RHB does not pay interest for non-working day.
You can see this info on the bottom of Post #2

I know OCBC is very nice in this area..

I see.. OCBC creates this differentiation is making sense to me. But my FD cert is printed like this: "Renew principal and interest for the same period at the prevailing interest/profit rate"

Thanks for the update. Young Magic is No.1...

This post has been edited by BoomChaCha: Nov 22 2014, 02:03 AM

yeah, i specifically requested not to renew at board rate and transfer all to my OCBC saving accounts. i'm planning to use this fund to reduce my house loan's principal next year (OCBC's also), so the timing is just nice

OCBC FD >> OCBC SmartSavers >> OCBC House Loan

this is also the main reason why i chose OCBC's FD instead of others since it's less hassle for me to handle the fund

Ah Boom Sir, in your post, you must have edited it in mistake. The below is not from me, it is from another forumer. I think I made the comment that the add'l interest is NOT RM10. I have no acct in OCBC yet. Penang OCBC branch is in town where parking is a big headache.

QUOTE(bbgoat @ Nov 21 2014, 10:32 AM)
2) Read thru the internal briefs for Independence Day FD deals (expiring 30 Nov). I noticed all interest rate of 4.100010% p.a. is for the Gold Coin contest. I guess they're doing this on purpose to segregate eligible vs non-eligible depositors. p/s: mine printed 4.100010% p.a. as well as printed instructions to transfer the fund+profit back to my OCBC's SmartSavers account upon maturity.

Parking is not a problem coz there is car park charging Rm1 per hour. The car park is just opposite Ocbc.

Free 1 hour parking for premier customer if you park the car at the car park near the traffic light junction which is quite far away.

By the way, Ocbc has another branch at Batu Maung which is convenient for those staying near factory area

The comment at the bottom of http://imdavidlee.com/how-to-calculate-your-epf-dividend/ linked to these 2:-

http://farm5.static.flickr.com/4077/493413...892ae4afd_b.jpg

http://farm5.static.flickr.com/4122/493353...559632de5_b.jpg

which basically state that dividend is calculated on a daily basis.

Based on the above 2 links, "delay it until the last week of the month" is not a good move.

It's anytime is a good time thingy, & the earlier, the better.

Cheers

Lazy to walk. That car park u mentioned short distance away also, also not proper parking lot. When I opened acct in SCB recently for the 4.25%, I did park there. So depends on promotion whether it is enough to lure me there. Anyway, no acct in OCBC there.

OCBC Batu Maung far away some more. Traveling time and cost comes in.

Please read your own post 2.2 .
Understand your own search. Dividend are calculated starting from end of the month for new contribution and is based on daily calculation. Not going OT again. I did a sample calculation on my own EPF account.

Existing funds in epf earn dividend daily. It is the new deposit or monthly contribution that will be in the calculation at the end of the month

sorry. my bad

Wow this is valuable info for me.

EPF must have taken quite abit of our dividends that way. Due date is stated as before 15th each month. So most would pay around 10th or so , would stand to lose 20 days interest!
Start next payment me going to pay early, pay on 28th or so every month.

For those who need salary computation, the taukeh would have to compute salary early, wonder how many is going to be so nice for their employees.

Yes , confirmed EPF paid us short.
Login to KWSP i akaun, check your dividends.

EPF pays dividend only from the last day of the month, despite it states
caruman must be paid before the 15th every month.

Every month caruman is paid around 10th to 12th,but KWSP is not paying dividends for another 14 - 15 days till the end of that month.

1 month makan 14days, 1 year makan you 168days at least.

For year 2013 i lost 175 days' interest.

Just wonder...if employer were to pay early ie on the month before it,
how would the dividend be calculated...

Normally is like this:
Caruman Januari 2014 due 15.1.2014 --> usually paid around 10.1.2014
EPW starts paying dividend for that caruman only from 30.1.2014

Now if employer were to pay Caruman Januari 2014 early, say on 26.12.2013, would EPF starts paying dividend for that from 30.12.2013??

For voluntary self contrib, sure must do it at month end next time, if you dont want to be makan.

I suppose the computer system will pay interest accordingly from 30.12.2013. But the employer will also rugi 14-15 days every month by advancing the employee's EPF contribution earlier as suggested. So the situation is either EPF makan 14 - 15 days interest or employer rugi 14 - 15 days interest.

If that is the case, employee stands to gain extra 30 days's dividend every month!

Dont calculate like bank FD. Lets say EPF has RM100 to distribute to 100 units then its RM1 each as % dividend is for reference only.

Note : A liitle OT is ok but not this much. Pls discuss at relevant thread before mod shut us down. Thanks

This post has been edited by magika: Nov 23 2014, 05:05 PM