if u already max up the 6k deductible, no different on ur income tax...

Got it..Thanks.

Sifus

for 60K self contribution, Need an advise

1. At the moment doing "manually" contribution thru M2U on monthly basis.
2. Is there a way it can be done auto deduction , either thru EPF apps/website or thru M2U (Favorite payee) ?
3. It will be easier . Just set the amount & date and all done !
4. I already checked with MBB branch. They said it cannot be done bcoz EPF is consider "investment". As such no provision for it thru M2U

Sorry to revive this, but so if i-saraan government contribution has ended, is there any other benefit over the normal option to self contribute?

I tried to use classic M2U portal with my favorite-epf but the transaction limit is still 5000. But when I tried the New M2U portal there is no Investment>EPF like in classic. I would like to pay 60k on 28-July(Wed) so that it will entitle for Dividend starting August-2021. Anyone can help?
The example given by https://www.misterleaf.com/9782/epf-self-co...ibution-online/ is for classic M2U.

noticed that your "misterleaf" instruction....is under "Investment>EPF> ......."

this one is Navigate to the ‘ Pay & Transfer ...
https://helmihasan.medium.com/how-to-self-c...2u-4ed23aa624c2

just not sure if they will ends up at the same thing

This post has been edited by MUM: Jul 24 2021, 09:17 PM

Not in front pc lol

I just did a quick navigation on safari since my mobile is charging.

Safari > maybank2u > log in > menu > pay & transfer > (I’ve added so select directly) intended epf acc > amount > done

Edit. Replied wrong person lol

This post has been edited by Cookie101: Jul 24 2021, 09:23 PM

Thanks found it in the new M2U. It is in the 2nd page of the Payee's favourites so just need to keyin amount. Hope 60k is accepted eventhough max transaction limit in setting is 30k.
Last year when i did the transfer the amount was credited in the next working day. But will do it 1 day earlier on 28-7 Wednesday.

This post has been edited by MGM: Jul 24 2021, 11:07 PM

Is there a max % for employee contribution? 20-25% ok?

there is no stated max....
according to the Form KWSP17A (ahl)
https://www.kwsp.gov.my/documents/20126/147...ac-5e3e52cc122e

just don't go to 100% as you will need to consider the other % for other statutory contribution like Socso and LHDN

https://www.kwsp.gov.my/member/contribution...-statutory-rate

Omg its been ages Ive tried finding out how to self contribute via Maybank. Thanks for this link - it helped.

However, am I correct to assume that I dont need prior EPF approval to self contribute right?
Also, self contribution is not part of the existing statutory contribution via monthly salary deduction, correct?
How long does it take to reflect in our EPF account?

I tried RM50 for fun today since its my first self transaction to test waters

This post has been edited by familyfirst: Jul 26 2021, 09:24 AM

For I saraan, (self contribution) it was mentioned by forummers that one need to submit application or tell epf..... Normal self contribution no need.
Yes, it is not part of the statutory contribution, but max 60k per calendar year.
I do not hv Maybank a/c, so I don't how long it takes... But if do it in PBB, I think if I remembered it correctly, it is instantanously reflected in epf a/c

Yes do test rm50 with Maybank then tell us the results, thks

This post has been edited by MUM: Jul 26 2021, 09:35 AM

Usually I notice around 1 working day or next day to reflect in i-akaun if using M2U.

Thanks. I will check my account status and update here the processing time via M2u.

for gov servant under the pension scheme, if self-contribution, can it still be used for the income tax deduction?

Don't think so. But u can op for I saraan n get 250 free

ok thanks for the info

👌👍👍

I asked KWSP a few months ago. They told me the max is 50% (or 55% ?)of the gross salary if I remember correctly

You can ask your employer to increase the employer portion though , but need hr to work out the exact amount

In my case i asked my employer to decrease my salary , but increase epf paid by him.

This post has been edited by Chrono-Trigger: Jul 27 2021, 07:42 AM

Why would you do that ?
1) Your base pay becomes lower. Which will affect your bonus, future job HR will look at base pay, bank loan application, credit, etc.
2) You can always use employee to increase % which is the same as #1, unless you already max employee % ?
3) Do note max employer is 19% IIRC, anything above that is taxable on the Employer EPF portion, which will lower your income/contribution and pay additional tax on top of your regular income tax rate.