what is the "last" date to put in, to be eligible for the FULL Jan dividend calculation?

can I ask....
can the contribution from the employee and employer that are deposited on 15 Jan be seen in that manner too after a few days, without having to wait till after dividend announcement?

what if they paid the end Dec salary on 31 Dec but EPF deducted from the 31 Dec salary, but paid/submit contribution on 15 Jan....will that EPF contribution be shown in the "withdrawal eligibility" method too...(maybe on 18 Jan)?

thanks for the responses...

can try check out the method as in below post

thanks for getting the EPF's reply...
so if the contribution is "late" to enter EPF and assumed to be in EPF on 2 Jan,......then it will be pro rated (less 1 day) of the whole year dividend?
so assuming RM60k lump sum "late" at 6% = 3600/365 = approximately RM9.80 less for each 1 day late?

thanks for pointing out.
will have to keep this in my mind.
I will only get 1 day of dividend payment for that month, no matter when the new contributed money is in the EPF for that month....no pro prorate benefits for contribution.
Only withdrawal date variance will have the pro rate benefits.

just ensure you have enough cash flow for other needs while money in EPF are locked away.

Your Question:
would assume by adding cash into 100k can build-up the fund faster through compounding interest when compare to adding cash to 20K?
if both samples have RM20K at start, for A & B
if you add in RM100k into A, then you will have RM120k x 5% pa X 20 yrs
if you add in RM20k into B, then you will have RM40k X 5% pa X 20 yrs

so which one will have more money in the end?...is this the query you asked?

may not answer your query, but hope that this would be just an added info to you and others

not sure about Maybank, but for PBB there is a forummer posted
"For self contribution, its possible to transfer RM60K one shot on PB e-banking."
"Using PBB ebanking, no security device.
For Rm60K one transaction, just using fone and TAC number."

if interested can check out more of his postings in
page 195, post 3900
page 196, post 3906, 3910
page 197, post 3929
EPF DIVIDEND, EPF
https://forum.lowyat.net/topic/2705461/+3900

thus if confirmed Maybank has limits of 5K, then maybe you can consider PBB online then?

just for knowledge.....
what is the max amount of times or & value can be made PER DAY?
is there a limits?
like max 10 times (transaction/transfers) or max RM100k ....in a single day?

This post has been edited by yklooi: Mar 7 2020, 11:43 AM

some are >55 yrs old
some has extra cash,...sort of asset diversification
some just put a little extra % into it for retirement purpose, that amount put in does not affect their cash flow
some are near 50 yrs old, thus can take out 30% of it if and when needed at 50
etc, etc

aunties and uncles withdraw could not be due to panic only
aunties and uncles withdraw could be that they wanted to "enjoy" the fruits of their labour before the end of time
aunties and uncles withdraw could be they wanted to use that money to further the educations of their family members
aunties and uncles withdraw could be they wanted to move to a higher yielding instrument that they think could increase to ROI.
aunties and uncles withdraw could of many things other than "panic" only

can you check online to see if that money is in?

this matching grant that you mentioned....is it about this?
Matching grant for gig workers
https://www.nst.com.my/news/nation/2020/06/...timely-says-epf
"Yesterday, Prime Minister Tan Sri Muhyiddin Yassin announced that the government will provide a matching grant of up to RM50 million for gig economy platforms who contribute towards their gig workers' Social Security Organisation's (Socso) employment injury scheme and the EPF's i-Saraan scheme.
The initiative is among 40 outlined in the RM35 billion allocated under the Penjana Economic Recovery Plan."??

if YES, then,...from the same article...
"The move by the government to provide a matching grant for gig economy workers to contribute towards the Employees Provident Fund (EPF) via the i-Saraan scheme comes at the right time, taking into consideration developments in the country's workforce sector.
i-Saraan allows EPF members who are self-employed and do not earn a regular income to make voluntary contributions towards their retirement and at the same time, receive additional contribution from the government."

for its rate and others...do refer to GrumpyNooby's earlier postings

This post has been edited by yklooi: Jun 6 2020, 10:06 AM

I think it was meant to allow/encourage those in the gig economy to participate in those scheme....

just asking,....when did you make the I-saraan contribution?

i think reading from their FAQs

The EPF will routinely make government contribution claims based on accumulated contribution for the first (January to June) and second (July to December) halves of the year.
Upon receiving the contribution payment from the government, the amount will be credited into members' Account 1 (Retirement Account).

https://www.kwsp.gov.my/member/contribution...he%20government.

looks like those that contribute i-saraan on the 2nd half of the year will "get" it next year.

thanks for telling and confirming the latest info

Do take note of the availability of lock in period in epf...

Doing it on 1st or end of the month also get same dividend amount for tis month?

This post has been edited by yklooi: Jan 1 2021, 11:38 PM

possible of 2%pa interest for 29 days for 60k ...not a small potatoes for me thou...

read previously it is just 1 day interest no matter when you put in for that month....to have full month calculation...had to be in by "last" month

This post has been edited by yklooi: Jan 2 2021, 12:30 PM