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EPF SELF-CONTRIBUTION
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kevyeoh
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 Jan 4 2022, 10:38 AM
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Cannot. Even if your salary is RM10 or below, also already no need/cannot pay for EPF contribution by employer. https://www.kwsp.gov.my/documents/20126/927...ual+Ketiga+.pdfGood luck. I will suggest you contact EPF directly since your case so very special...  QUOTE(GravityFi3ld @ Jan 3 2022, 03:40 PM) Happy New Year! Not quite "Self" Contribution - but is it possible for a company to only pay EPF without salary? As in an employee which only gets paid in EPF Contribution, no salary/wage/allowances etc. Scenario:- Senior employee (above 60) to be retained (on a consultancy basis) with only monthly EPF contribution as remuneration. Say they were on a RM5K/mth salary, with EPF at 650(Employer 13%) & 550(Employee 11%) - but now we only agree on EPF at 650(Employer 13%) & 550(Employee 11%) WITHOUT the RM5K. In short they get 1,200/mth as their pay in EPF Contributions. How as HR, can we go about this situation? Can it work, or is it against EPF standards? |
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N9484640
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Jan 4 2022, 10:59 AM
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QUOTE(KIP21 @ Jan 4 2022, 09:32 AM) Sifu, How do I currently check on the current 2022 transaction? if you know your 2021 balance, you can figure it out by looking at your withdraw eligibility amount. |
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sweetpea123
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Jan 7 2022, 03:02 AM
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Have you guys did the self-contribution 60K already ? Or is there a special period to do so?
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Relaxing work 2
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Jan 7 2022, 06:17 AM
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Getting Started
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Should have put more in EPF than in FD. Better interest rate.
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N9484640
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Jan 7 2022, 07:58 AM
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QUOTE(sweetpea123 @ Jan 7 2022, 03:02 AM) Have you guys did the self-contribution 60K already ? Or is there a special period to do so? Can do already but I not yet. Still waiting for my bonus |
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kevyeoh
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Jan 7 2022, 01:42 PM
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can do anytime... QUOTE(sweetpea123 @ Jan 7 2022, 03:02 AM) Have you guys did the self-contribution 60K already ? Or is there a special period to do so? |
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sweetpea123
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Jan 28 2022, 02:20 PM
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sweetpea123
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Mar 2 2022, 01:59 PM
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SUSBrookLes
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Mar 2 2022, 05:31 PM
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It's "good" to have 6+ percent in dividends.
Problem is, how much you can actually take out when the time comes.
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heavensea
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Mar 2 2022, 05:51 PM
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QUOTE(BrookLes @ Mar 2 2022, 05:31 PM) It's "good" to have 6+ percent in dividends. Problem is, how much you can actually take out when the time comes. Don't question this in this thread. Just don't. |
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Bendot
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Mar 2 2022, 06:17 PM
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New Member
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QUOTE(BrookLes @ Mar 2 2022, 05:31 PM) It's "good" to have 6+ percent in dividends. Problem is, how much you can actually take out when the time comes. I dont see any problem taking out your epf money when you reach 55. Nobody that i know of have withdrawal problem taking out their epf money...and quite a few of them have savings in excess of 750k. Some opt not to withdraw at all as they are still working and no need of it at the time. |
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Thasmita
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Mar 2 2022, 07:26 PM
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Ploughing in additional cash into epf only works for those who don’t have dire need for immediate cash and want a relatively safe investment vehicle with decent returns.
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Thasmita
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Mar 2 2022, 07:27 PM
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QUOTE(Thasmita @ Mar 2 2022, 07:26 PM) Ploughing in additional cash into epf only works for those who don’t have dire need for immediate cash and want a relatively safe investment vehicle with decent returns. Unless one already had more than rm 1 million in the account |
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Shanks747
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Mar 2 2022, 07:52 PM
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Getting Started
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EPF can take out fully after 55, can we keep it there after 55 ?
If want put in money into epf got any chargers ? or just can put in the money
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N9484640
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Mar 2 2022, 08:14 PM
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QUOTE(Shanks747 @ Mar 2 2022, 07:52 PM) EPF can take out fully after 55, can we keep it there after 55 ? If want put in money into epf got any chargers ? or just can put in the money Can keep until 100 years old. No fees for self contributions. Max is 60k per year This post has been edited by N9484640: Mar 2 2022, 08:15 PM |
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Shanks747
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Mar 2 2022, 08:28 PM
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Getting Started
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QUOTE(N9484640 @ Mar 2 2022, 08:14 PM) Can keep until 100 years old. No fees for self contributions. Max is 60k per year Thank you |
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sweetpea123
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Mar 4 2022, 01:57 AM
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QUOTE(BrookLes @ Mar 2 2022, 05:31 PM) It's "good" to have 6+ percent in dividends. Problem is, how much you can actually take out when the time comes. for someone already in the 50s, I have not much to worry about that cos I am a couple of years from withdrawal age, which explains the reason I only max the self-contribution in recent years. For those younger people out there, you can save at your discretion. This post has been edited by sweetpea123: Mar 4 2022, 01:57 AM |
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teslaman
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Mar 4 2022, 02:02 AM
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QUOTE(BrookLes @ Mar 2 2022, 05:31 PM) It's "good" to have 6+ percent in dividends. Problem is, how much you can actually take out when the time comes. dont care, my self contribution is for my retirement. For rainy day savings, thats separate fund savings. |
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sweetpea123
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Mar 4 2022, 02:05 AM
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QUOTE(teslaman @ Mar 4 2022, 02:02 AM) dont care, my self contribution is for my retirement. For rainy day savings, thats separate fund savings. i think what he meant was 'is the money still going to be here when he turns 55' if it's not 'stolen' already  |
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overthemoon
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Mar 4 2022, 04:40 AM
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Getting Started
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If you are a year or two away to the age of 55, should be safe to max self-contribution lor. That’s what I’m planning to do when the time comes in the near future.
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