Running Grab / Uber fleet is my main business and I voluntarily bank in a consistent sum monthly so that:

1. Income tax deduction as mentioned by Sunny Zombie. Max RM6k per year from your income. If u declare RM60k, it's 10% off!

2. The amount u saved gives u a relatively decent Interests annually which can be withdrawn when u buy a house. This is not as easy to draw out but definitely better than FD.

3. Banks use EPF as a way to see if you are the real deal if you want to apply credit cards or any other facilities, shall u require it. Say if you want to tell the bank u make RM10k per month - 8% from Employee, 12% from Employer = 20% or RM2k is contributed to EPF monthly.

Do this for 3 to 6 months and u can generally have access to the best credit cards like the Maybank 2 Premier cards with 120k income eligibility.

Just my humble opinion. Cheers.

This post has been edited by carbnb: Jul 28 2017, 05:53 AM