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 EPF - self contribution, need advise

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hft
post Jan 3 2020, 12:02 PM

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QUOTE(yklooi @ Jan 3 2020, 12:00 PM)
if not reflected in statement means money "missing"?
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Yes missing. Just drop them email with pdf copy of transfer.
SUSyklooi
post Jan 3 2020, 12:04 PM

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QUOTE(hft @ Jan 3 2020, 12:02 PM)
Yes missing. Just drop them email with pdf copy of transfer.
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just curious,...happened to you before?

just curious in the computer and money inter banking FPX age.....for this to happens....

This post has been edited by yklooi: Jan 3 2020, 12:05 PM
hft
post Jan 3 2020, 12:07 PM

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QUOTE(yklooi @ Jan 3 2020, 12:04 PM)
just curious,...happened to you before?

just curious in the computer and money inter banking FPX age.....for this to happens....
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Yes to me. Say done Jan to July, one of them is missing say Mar. No way not updated after few months.

Method of transfer is same for all transactions, MayBen.
SUSyklooi
post Jan 3 2020, 12:14 PM

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QUOTE(hft @ Jan 3 2020, 12:07 PM)
Yes to me. Say done Jan to July, one of them is missing say Mar. No way not updated after few months.

Method of transfer is same for all transactions, MayBen.
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is the balance in that a/c updated with the additional money from Mar even when the statement is not updated?

thumbsup.gif anyway thanks for highlighting it....
I had been using FPX payment for my bills, purchases and expenses stuffs sweat.gif sweat.gif

hmm.gif wondering how their a/c tally with the transaction details from yr bank a/c with theirs?
one in, one out......basic account ledger?

This post has been edited by yklooi: Jan 3 2020, 12:17 PM
hft
post Jan 3 2020, 12:18 PM

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QUOTE(yklooi @ Jan 3 2020, 12:14 PM)
is the balance in that a/c updated with the additional money from Mar even when the statement is not updated?

:thumbsup:  any thanks for highlighting it....
had been using FPX payment for my bills, purchases and expenses stuffs  sweat.gif  sweat.gif

hmm.gif wondering how their a/c tally with the transaction details from yr bank a/c with theirs?
one in, one out......basic account ledger?
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Yes not tally/not updated.

Nothing will ensure what out from our account tally into other ledger, not like blockchain bitcrap.

I always keep PDF copy of every transaction saved into global google drive.
romuluz777
post Jan 3 2020, 12:20 PM

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QUOTE(yklooi @ Jan 3 2020, 12:46 PM)
2 forummers had mentioned that they did it on 1 Jan...
Have to see their findings.
Btw. I thought you had experienced that already...
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I hv just rung up EPF cust service to enquire, and the feedback is, any self caruman this month (Jan 2020) can only be seen in the new statement for 2020 after dividend is released.

If you credit on 31-Dec 2019, then it will be reflected on your 2019 statement, as you hv just done.

Therefore I will wait till next mth to transfer my self cuntribution, to be on the safe side.
SUSyklooi
post Jan 3 2020, 12:23 PM

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QUOTE(romuluz777 @ Dec 30 2019, 04:44 PM)
Thats not what I am looking for.

When I credit in a self cont, I expect to see it within 3 working days. Not in 1.5 mths time. I think better wait til Feb after statement’s out.
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your concern and decision to wait is valid for the below....

QUOTE(hft @ Jan 3 2020, 11:57 AM)
Make sure you audit annually your self contribution and keep receipt copy of transfer. Sometimes did not reflect in statement one of many transfers.
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QUOTE(hft @ Jan 3 2020, 12:02 PM)
Yes missing. Just drop them email with pdf copy of transfer.
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QUOTE(hft @ Jan 3 2020, 12:18 PM)
Yes not tally/not updated.

Nothing will ensure what out from our account tally into other ledger, not like blockchain bitcrap.

I always keep PDF copy of every transaction saved into global google drive.
*
SUSyklooi
post Jan 3 2020, 12:27 PM

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QUOTE(romuluz777 @ Jan 3 2020, 12:20 PM)
I hv just rung up EPF cust service to enquire, and the feedback is, any self caruman this month (Jan 2020) can only be seen in the new statement for 2020 after dividend is released.

If you credit on 31-Dec 2019, then it will be reflected on your 2019 statement, as you hv just done.

Therefore I will wait till next mth to transfer my self cuntribution, to be on the safe side.
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if the self contribution this month (Jan 2020) can only be seen in the new statement for 2020 after dividend is released.

so will the deduction of employees contribution and contribution from their companies in Jan 2020, will also only be seen in the new statement for 2020 after dividend is released?

anyone kind enough to check and update this 2 weeks later (usually companies will submit before 15 of the month?)

I cannot check as I have not contribution.

This post has been edited by yklooi: Jan 3 2020, 01:07 PM
billy08
post Jan 3 2020, 12:33 PM

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QUOTE(David83 @ Mar 1 2019, 02:11 PM)
No dividend given I believe.
Money sure won't return to the bank! laugh.gif
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good question. I too would wonder what will happen to the excess .. will it fall into next year 60K limit?
romuluz777
post Jan 3 2020, 01:16 PM

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QUOTE(yklooi @ Jan 3 2020, 01:27 PM)
if the self contribution this month (Jan 2020) can only be seen in the new statement for 2020 after dividend is released.

so will the deduction of employees contribution and contribution from their companies in Jan 2020, will also only be seen in the new statement for 2020 after dividend is released?

anyone kind enough to check and update this 2 weeks later (usually companies will submit before 15 of the month?)

I cannot check as I have not contribution.
*
Cuntributions from salary for January you will also see in the 2020 statement post-dividend declaration.
For February cuntributions, you might sight it together if the declaration is done after 15th of the month.
SUSyklooi
post Jan 3 2020, 01:19 PM

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QUOTE(romuluz777 @ Jan 3 2020, 01:16 PM)
Cuntributions from salary for January you will also see in the 2020 statement post-dividend declaration.
For February cuntributions, you might sight it together if the declaration is done after 15th of the month.
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QUOTE(mavistan89 @ Jan 3 2020, 06:12 PM)
Yes, the self contribution and deduction for January2020 will only be seen after dividend is released.
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thumbsup.gif noted with thanks

This post has been edited by yklooi: Jan 4 2020, 08:30 AM
SUSwct
post Jan 3 2020, 01:25 PM

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Mine is under 2019 or 2020 contribution? I wanted it to be on 2020.


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romuluz777
post Jan 3 2020, 01:55 PM

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QUOTE(wct @ Jan 3 2020, 02:25 PM)
Mine is under 2019 or 2020 contribution? I wanted it to be on 2020.
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This is accounted under 2019.
Not sure if you will incur dividend on it though.
PrincZe
post Jan 3 2020, 02:39 PM

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QUOTE(wct @ Jan 3 2020, 01:25 PM)
Mine is under 2019 or 2020 contribution? I wanted it to be on 2020.
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Already mention contribution for Dec heheh
mavistan89
post Jan 3 2020, 06:12 PM

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QUOTE(yklooi @ Jan 3 2020, 12:27 PM)
if the self contribution this month (Jan 2020) can only be seen in the new statement for 2020 after dividend is released.

so will the deduction of employees contribution and contribution from their companies in Jan 2020, will also only be seen in the new statement for 2020 after dividend is released?

anyone kind enough to check and update this 2 weeks later (usually companies will submit before 15 of the month?)

I cannot check as I have not contribution.
*
Yes, the self contribution and deduction for January2020 will only be seen after dividend is released.
kaacip
post Jan 3 2020, 09:55 PM

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QUOTE(wct @ Jan 3 2020, 01:25 PM)
Mine is under 2019 or 2020 contribution? I wanted it to be on 2020.
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if you already maxed out 60k for 2019, means they would not have accepted another 2k for 2019 right? so it must have gone to 2020 ledger

This post has been edited by kaacip: Jan 3 2020, 09:55 PM
heng84
post Jan 4 2020, 12:18 PM

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Sorry for asking dumb question but say now out of desperation I need to withdraw 50k from acc2 for Renovation can i Put back 50k into acc2 after selling off my car , bcos I need to start Reno but my car still not yet have buyer don't want sell to car dealer cheap
MUM
post Jan 4 2020, 12:24 PM

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QUOTE(heng84 @ Jan 4 2020, 12:18 PM)
Sorry for asking dumb question but say now out of desperation I need to withdraw 50k from acc2 for Renovation can i Put back 50k into acc2 after selling off my car , bcos I need to start Reno but my car still not yet have buyer don't want sell to car dealer cheap
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according to this site....
"......you cannot withdraw EPF funds for house renovation - it isn't listed in the types of withdrawals."

https://ringgitplus.com/en/blog/Duit-The-Ea...ithdrawals.html
cute_boboi
post Jan 4 2020, 12:26 PM

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QUOTE(heng84 @ Jan 4 2020, 12:18 PM)
Sorry for asking dumb question but say now out of desperation I need to withdraw 50k from acc2 for Renovation can i Put back 50k into acc2 after selling off my car , bcos I need to start Reno but my car still not yet have buyer don't want sell to car dealer cheap
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Theoretically, short answer, yes.

Long answer, provided you meet all the requirements/eligibility/etc. You can withdraw 50k from account 2, there is a formula to calculate maximum withdrawal.
But when you put back 50k, as self-contribution, it will split 70/30 into account 1 and 2. At the end of day/year/55/life, the annual dividend % calculation is still the same whether is account 1 or 2. But it will affect future account 2 withdrawal.
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heng84
post Jan 4 2020, 12:42 PM

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QUOTE(MUM @ Jan 4 2020, 12:24 PM)
according to this site....
"......you cannot withdraw EPF funds for house renovation - it isn't listed in the types of withdrawals."

https://ringgitplus.com/en/blog/Duit-The-Ea...ithdrawals.html
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Ya but can withdraw under other purpose , but end up is my life savings that why I want to put back , and for high interest dividend

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