1.)One year can RM60K, but I don't know want "your salary + self contribution = RM60K" -> This is want you ask and wrote here told back, if you want share info.

Now you not eligible of self contribution without intensif, so free use what bank, if this bank connect with EPF, so your situation use CIMB no problem. You also can OTC, but some bank will charge you.
If not wrong, only Maybank and Public bank if you self contribution with intensif, others bank only one choice, this is call "self contribution", so when you pay to EPF, then wait 3 days, you check your account, you can saw 70% money in Akaun 1 and 30% in Akaun 2.

You can filled form if for every month your salary want paid more % for your salary, this is not call "self contribution".
If you consider put RM60K, you no want take risk top up more than RM60K per year, so the 1.) you need ask.

Other questions about EPF you can consider self ask.

Means that if a full time salary contributed RM12000 per year to Epf account:

A. then only left RM48000 per year quota for self contribution?

Or

B. Still have RM60k quota for self contribution (exclusive salaried epf contribution)

while waiting for his responses, I kaypoh abit googled and found this

read at the "PERINGATAN" on the top section of both these forms...

http://www.kwsp.gov.my/documents/20126/147...t=1551760897083

http://www.kwsp.gov.my/documents/20126/140...f7-b2bb146961f8

http://www.kwsp.gov.my/ms/member/contribut...lf-contribution
http://www.kwsp.gov.my/ms/member/contribut...gs-contribution

It's your own money. No one is going to question you if you put more inside EPF. If I were you, I will just taruh. At the end of the day I am the one going to withdraw. Not govt. So if they let you put just put and keep quiet about utm

This post has been edited by Ramjade: Jul 20 2019, 07:08 PM

Excluding salaried kwsp contribution (B)

Use Borang KWSP_ 6A_1 if deposit over the counter for amount RM60k. Internet banking dont need form but restricted each transaction limit

This post has been edited by magika: Jul 20 2019, 07:40 PM

EPF's interest reward really attractive....compare with saving, FD,insurance

If you're young at 20's, EPF will lock your money if you do self contribution for 30 years.

When you are young, its better to invest in an own property instead of dumping any excess cash into the epf. Its hard to get it out in case of need for emergency usage.

This doesn’t sound any wiser than putting into epf.

At least not at a loss. Property doesn’t “release” the fund until it is sold. And in reality, current value is at a loss.

Ok, do what you think is best.
For me, I’m putting all excess into EPF. When in need, just withdraw. Any amount, anytime 😉

Hi, anyone can share how does EPF calculates dividend, eg daily interest or based on certain date?

Should I deposit self contribution anyday, month end, or end of the year? Will there be a scenario where the funds I deposit into EPF sitting idle for few days or months and not counted for dividend?

Thanks.

Problem is anything can happen in say 20 years.

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

if you plan to deposit, you need to ensure it's in EPF's record latest on the last day of the month to qualify for the subsequent month's pro-rated dividend.

From experience :
Day 1 - transfer money from bank to EPF
Day 3 - EPF online shows money received on Day 2.

thanks for the tips. was cracking my head how to qualify for the entire year 2020's dividend for self contribution. Still a bit risky though, if i were to bank in on Dec 31. If they treat as this year, will bounce back.

This post has been edited by beLIEve: Sep 2 2019, 11:31 PM

I made an inquiry with EPF and this is what I got :


looks like my safest bet is to bank in on Dec 31 because already max out this year's.

You so talent brain. I worry I not understand, so what you think, I feeling like below. Do you think, I can get and fully understand what you want inform of your situation? Thank you.

Before year 2019 any date you contribute max RM60K in EPF.
Now, you wish fully get 12 months dividend of year 2020, but if in 01 Dec 2019 - 29 Dec 2019 you contribute again RM60K, so total in year 2019 is RM120K.
This is ready broken the EPF rules 1 year cannot max RM60K?

Cause above, now, for safe reason, you plan bank in on 31 Dec 2019, then wait 2 days appeared in I-Akuan, so the date is 2 Jan 2020.
This is mean in year 2019 you not broken the rules, but you can make sure the money appeared in EPF is ready on year 2020, so
a.)You only unable get Jan 2020 whole month dividen, because date fall on 2rd Jan 2020, no 1st Jan 2020.
b.)Also mean in future 01 Jan 2020 - 30 Dec 2020 you unable contribution any money in EPF account.
c.)If you want repeat your step, next year when 31 Dec 2020 you contribution max RM60K again.

Combined all, so for new start and want plan of future is like below?
1.)Must need follow the EPF rules, so if you wish in year 2020 can get whole year 12 months fully dividen, can consider full max the EPF RM60K in 01 Dec 2019 - 29 Dec 2019.
2.)Then year 2019 ready max RM60K, wait till 01 Dec 2020 - 29 Dec 2020 repeat above step and this is for next year 2021...
3.)If you self contribute in 01 Dec 2019 - 29 Dec 2019, above still count in year 2019, so you ready contribute RM60k you can get max RM250 bonus dividen of year 2019, but only no dividen(6%) can get on year 2019, then RM60K dividen start get on year 2020 Jan - end
4.)If you in year 2020 not contribute any money, this is also mean in year 2020 you unable get max RM250 bonus dividen of year 2020, but can get dividen(6%) till end.

2 is nd, not rd, I wrote wrong.

a.)You only unable get Jan 2020 whole month dividen, because date fall on 2nd Jan 2020, no 1st Jan 2020.

yes your understanding is very correct.

Thank you for your reply. Sorry, my standard like that, I also don't know how, so want you take time read and make me understand.

No matter saving account or others low interest, why you not consider put in EPF on 28 Jan 2020 ?
If you choice the date 31 Dec 2019, then fall on 2 Jan 2020, also cannot get EPF Jan 2020 dividen.
If you choice 30 Dec 2019, maybe fall on 1 Jan 2020(I not sure EPF count the time or not, another reason is I think you risk of broken RM60K rules.)
So, you consider wait 31 Dec 2019 till 28 Jan 2020, at this range date RM60K put in saving account or others still can earn some interest.

The KWSP answers is
"payment was made" within 1st January 2020 until 31th January 2020.
if you wish to get dividend for 2020, you may contribute "any day in December 2019".

Above I confuse "payment was made" but still not appear in I-akaun, this is how to count.
"any day in December 2019", this is also meaning the last day 31 also can bank in, the problem still "payment was made" but not appear in I-akaun, how.

(I assumed if all mistake before.)
If "payment was made" no need appear in I-akaun, then "payment was made on 31 Dec 2019" you maybe broken the RM60K rules.

If your situation, I feeling you can consider put on 28 Jan 2020. Why you prefer 30 Dec 2019?
If new start, I get the conclusion is the money in I-akaun want sit on end of the month, this is can first day month with time 00:00 get full month dividen.
(The is depend EPF "payment was made with no need appear in I-akaun" vs "payment was made and need appear in I-akaun", impact bank in on last day of month or early date of month.)
(Honestly, I only ask you, so I believe you, if you never ask KWSP about "vs" question, this is my curious why you not prefer put on any date of Jan 2020? Put on 31 Dec 2019 maybe broken the RM60K rules, no EPF dividen on Jan 2020 too and wait late put on EPF can earn some interest in saving account.)

Yes, I feeling above really aggressive, but near not lost 28 days interest. You sure high than me, can you teach me again? What I wrote you can see where wrong? Thank you.

you are welcome

end of Jan 2020 is a no brainer, no need to ask anyone.

people need to experiment or ask questions to know the definite answer. it'll be beneficial for future generations, not the pioneers who do the tests.

This post has been edited by beLIEve: Sep 5 2019, 02:41 PM

Sorry, my bad English and others, I still cannot get. You willing wrote some again. Thank you.

If I'm same shoe, year 2019 max RM60K, then if wish get Year 2020 EPF dividen, the date I'll choice is end of Jan 2020.
Base on 3 reason.
a.)Worry broken RM60K rules
b.)No dividen on Jan 2020
c.)28 days can earn some interest in saving account

Really no brain?
What I wrote, if my situation same, I consider do like above.
OMG, I really very no brain, I unable know above where wrong, can you please like that?