If you’re bad at actual investment (not the typical simply buy stock here and there type, these type all pasar pagi aunty also doing la), or really really maximising your cash on hand, just stick to EPF, let it be a “forgotten” fund for you.

There’s no denying at least 80% of the people who withdraw EPF money just falls under this 2 category:
1. Really need money to keep on surviving through this tough times.
2. Just to buy ps5/iphone or other unnecessary shit to show off in insta.

Very rarely there’s people who really know how to handle that 10k, or more, wisely.

As someone mentioned, people just cannot comprehend the compounding power. I got ~rm114k from today divident announcement by epf, basically doing nothing. And i still got loads more years of slaving to go before i retire, even then, I won’t take out epf oneshot simply because of how hassle free, low risk it is.

Go google yourself compounding intrest examples yourself, its as magical me telling you, if you could fold a piece of normal thin paper for 42times, it’s thickness will reach the moon by then.

Macha.. i’m not even close to retirement age... of course alot more year, or decades to be a slave la, as much as i wish i’m some big time business owner, i know i’m just a small kitten compared to all the business chain owners. Also, the 2mil or so in epf that’s untouchable anyway, cannot even be used to outright buy my current property weh...

But the company pays very well, and has an incentive to topup malaysian epf% from employer side, so all’s good - until the day i get a fat check from redundancy

How to check whether contribution is reflected in EPF?. is it instant?. can we see the exact amount self contributed in statement?

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?

Have you guys did the self-contribution 60K already ? Or is there a special period to do so?

My view is 60k reinvested in epf in these days is a little waste
Invest in crypto is better

If I put 60k in July 2022, do I have to wait until July 2023 before I can put again or Jan 2023?

Just have to factor in inflation as well 

I calculate my EPF can reach 2m in few years

Syok

Thank you for the info. Meaning can store an unlimited amount? RM10m and so on ?