Thanks u r right, failed at 40k but 30k accepted. Instead of issuing msg amount too big it hanged/spinning at the FPX page.

How do you find out that it hanged/spinning at the FPX page? I self contributed RM 20k on Friday and until today still not inside my EPF account.

Monday night around 11pm will reflect on your apps. It requires minimum of 3 working days.

No need kan cheong. Count 3 working days . Latest tomorrow night.

Those I use FPX at IAkaun on 27(Fri), 28(Sat) have been credited n shown in balance and trans history. But the one via M2U on 27(Fri) is still nowhere in sight.

Thank you so much all. Because this was my 1st time and it was big sum, so I got nervous a bit

I am sorry that I didn't read through all the threads, would like to know, you guys every month allocate a certain percentage of the income to self contribute to EPF?

And I am also curious, you all are in business? Or there are some here actually under employment and decided to top up more on top of what already been contributed by the gross salary and employer by self contributing ?

Thank you

I'm under employment. Inform your HR to help fill up and submit Form 17A and you need to inform your employee % you want to contribute.
My consideration to do >11% for employee is after monthly:
- pay off all loans/CC
- cover all expenses
- some liquid cash/FD savings
- some for other non-EPF investment
- additional savings for bulk that come in some months, e.g. car insurance, roadtax, travel, annual fees, professional fees, etc.

Then only commit the amount (%) additional.
You may stop or change via Form 17A anytime, but try not to over commit too much and strangle ownself. Start with a % you are really really comfortable.

Also my consideration is either hit age 55 or >1M first. Then my EPF is like a savings/FD account already, can withdraw anytime and continue to compound.

Thank you so much for such a great idea. I remember the same Form 17A is to fill up in order to select either 9% or 11% contribution. I have never thought of changing it through this form, I thought I personally self contribute like a thousand from my own saving acc, now after you mentioned it, I realised that going through the employer will be better as it will not be taxable.

Question: Can we self-adjust employee contributions from 11% to say 20% or 30% while the employer retains 13% (force saving for the employee)?

Try this while waiting for responses

CONTRIBUTING MORE THAN THE STATUTORY RATE
https://www.kwsp.gov.my/member/contribution...%20requirements.

Excellent Thank you so much God Bless

you are my idol

i will need 3-4 more yrs to hit 1 mil below 55 yo

Yes you can. Again it is subject to whether your HR wants to help you (which they should, but you know it is.... ) and subject to your net salary remaining in the positive.

proof: basically I've done it previously when still working

Can't you do it yourself via self contribution using some bank website?

How long did you take to hit the 1M mark?

self contribution has to follow the 60K rm limit per year.

contribution via salary deduction is limited by your salary technically.

of course can use both methods together to speed things up... especially useful if one is already close to 1 million...
(the important part is the faster one gets to 1 million, the faster the liquidity option becomes available to the person)

This post has been edited by Wedchar2912: Jan 31 2023, 05:11 PM

Self contribution will be in which account?

so only after more than 1mil we can take out if less than 55YO?

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There's a caveat:

In general, withdrawals are allowed from your EPF account for home loans, to build a house, for studies, for medical treatment, etc., etc.

Above 55 and above 1M are just two more allowed withdrawals.

Also, withdrawal from Acct 2 upon reaching age 50.