Retirement Incentive (i-Saraan)
As a member under this incentive, you will receive a 15% government contribution (a maximum of RM250/year [Effective 1 Jan 2018]) on top of your own contributions.
*Not applicable to members that receive a fixed employer contribution.
*Government contribution is limited to members who are below age 55.

If you are self-employed, you can look into i-Saraan contribution with the government incentive of 15% by contributing RM1,667 per year until Y2022.

For i-saraan contributors, are they eligible for 4k tax relief annually? They are pensionable employees.

i-Saraan Benefits
EPF Dividends: until age 100
EPF Death Benefit: RM2,500
EPF Incapacitation Benefit: RM5,000
EPF Tax Exemption: RM6k (shared with life insurance)**
2014-2017: Government matching contribution 10% up to RM120 (for up to RM1,200 contributed)
2018-2022: Government matching contribution 15% up to RM250 (for up to RM1,667 contributed)
Note: Government matching for contributors below age 55 only

https://mypf.my/investing/retire/sp1m/

** before the recent amendment?

4k lah for 2019, 3k for life insurance separetely. So i-saraan got tax benefit after all?

Below is my own experience.

if appear in 1 Feb 2020 whole Feb enjoy the monthly interest.
if appear in 31 Jan 2020 lose 1 day interest, but after this Feb and all month enjoy interest.
if appear in 2 Feb 2020 lose whole Feb month interest, but after this, Mac and all month enjoy interest.

- self contribution via bank on 1/3/2018.  appear in EPF account in 2/3/2018.  Dividend for Mar2018 till Dec2018.  This year will try bank in say 27/28 of the month, to try out the dividend calculation.
2.)If every month no top up, but have balance in EPF, this is not complicated counting and use the calculation(Base on counting others, the counting more complicated than above EPF, the results can call very absolutely not wrong count, even of 1 cent), but why use the same counting, the results of above EPF each account can less RM 0.02.
You self do a counting?

- yes, I do my own calculation. if total  +/- 5 sen, I take it correct.  unless you manual key in after the calculation like rm123.456, you re-key into the worksheet as rm123.46.  then, it should be okay.

Sorry, ild thread. If Some1 bank in 60k lump sum in Nov, how much dividend will he get next year.
Is it gonna be pro rated by the number of month before December?

As stated above, if bank in (cleared) into EPF on 1-Nov, then interest pro-rated for Nov & Dec (2/12 x % x amount)

If after 1-Nov, then interest pro-rated for Dec (1/12 x % x amount) only.

If I make the online transfer on 30-Dec, it should appear in EPF on 31-Dec right.

If my fund is in form of cashier order/banker's cheque dated 30-Dec, any idea how I can get it available on my savings account on the 30th itself so that I can make online contribution? It dies take a few days to clear the cheque right?

Thanks

If I make the online transfer on 30-Dec, it should appear in EPF on 31-Dec right.

If my fund is in form of cashier order/banker's cheque dated 30-Dec, any idea how I can get it available on my savings account on the 30th itself so that I can make online contribution? It dies take a few days to clear the cheque right?

Thanks

Which month is the best month to do self contribution EPF by maybank2u?

I always thought it is in December, am I right?

Which month is the best month to do self contribution EPF by maybank2u?

I always thought it is in December, am I right?

this link would explain everything about the dividend calculation

https://1-million-dollar-blog.com/how-to-ca...e-epf-dividend/

From 15th until 27th February, dividend is calculated as follow,

Account 1 dividend = (70,000 + 700 – 1000) x 5.65% / 365 x 13 days = 140.26
Account 2 dividend = (30,000 + 300) x 5.65% / 365 x 13 days = 60.97

From the below example, does it mean that any contribution from the second half of the month gets the same interest regardless of the exact date? ie. 15th Feb gives the same dividend as 27th Feb for the month of February?

looks like 15 ~ 27 is 13 days, thus the calculation is 13
thus I think if deposit on 27 Feb then only 1 day
don't you think so?

That is why I am confused because from the example shown, it appears to be no different.

that example has a withdrawal in FEB, thus the balance is different...
I think that is the reason for 2 calculation in FEB using 2 different number of days