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 EPF - self contribution, need advise

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CommodoreAmiga
post Jun 8 2023, 08:31 AM

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QUOTE(low yat 82 @ Jun 8 2023, 07:47 AM)
sorry new in here. can use desktop for self contribution or not a. means this self contribution can b done adhoc n no need deduct from salary la ?
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If deduct from salary, it is not considered as self contribution. You can actually increase your EPF contribution above the current limit (13%?) to much more...like some of our Taikos here...and then self contribute lagi...lol.

Can't remember who it was. Maybe it was bro Wedchar. But also depends if the company HR wants to do for you or not.
CommodoreAmiga
post Jun 12 2023, 09:11 AM

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Very soon Akaun Lagi Emas 65.

Then Akaun Emas Kaw Kaw 70

Then Akaun Emas nak Mati dah 90
CommodoreAmiga
post Jun 12 2023, 01:50 PM

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QUOTE(xander2k8 @ Jun 12 2023, 01:40 PM)
Not as soon you think 🤦‍♀️ as to amend EPF Act you need a solid 2/3 majority which this so called unity govt is split and if they do and it will take time to be implemented
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Don't even get it when people make joke, die die need to win special olympics. No wonder you don't have friends.

🤦‍♀️ 🤦‍♀️ 🤦‍♀️

This post has been edited by CommodoreAmiga: Jun 12 2023, 01:50 PM
CommodoreAmiga
post Jun 21 2023, 02:04 PM

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QUOTE(romuluz777 @ Jun 21 2023, 12:12 PM)
Cannot tumpang bro. Its entrusting your money to the acct owner.
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Can lah...everyone welcomed to tumpang deposit into my Account.

You can always check in, but you can never check out...Welcome to Hotel California...brows.gif
CommodoreAmiga
post Jul 27 2023, 12:30 PM

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if the 2nd half of the year FD rates drop somemore to below 3.5%, then i wil continue to pump in maximized the EPF new quota. Still got RM35k left.

QUOTE(nexona88 @ Jul 27 2023, 10:05 AM)
That's what I said...

Rules not very clear...
Not sure about minimum age requirement to qualify for i-saraan 🤔
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I think the rules are quite clear. Below 60 yrs old and self employed. If you are salaried worker/employee, tak boleh.

This post has been edited by CommodoreAmiga: Jul 27 2023, 12:32 PM
CommodoreAmiga
post Jul 27 2023, 01:53 PM

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QUOTE(virtualgay @ Jul 27 2023, 01:47 PM)
i masuk monthly few hundred saja... just wondering when will the limit get reset like 100k limit?
also when EPF reaches RM1.0M you can withdraw anytime? RM1.0M is it Account 1 only or combine both Account 1 and Account 2?
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100k max per year.

You will probably need to go to EPF for first time setup, although some people mentioned some ways to go only one time, instead of two time for initial setup for withdrawal. I forgot already.

I dunno which account they will take first...but base on all the current scenarios, it's always Account 2 first.

This post has been edited by CommodoreAmiga: Jul 27 2023, 01:53 PM
CommodoreAmiga
post Jul 28 2023, 08:24 AM

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QUOTE(virtualgay @ Jul 27 2023, 10:03 PM)
i think will stick with Monday on the 4th week of the month
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i think 5 days before end of the month is fine, and ensure they are 5 working days, to be safe. If there are holidays attached to weekend, just move foward a bit to avoid delay over to next month.
CommodoreAmiga
post Jul 29 2023, 06:45 AM

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QUOTE(kechung @ Jul 28 2023, 12:13 PM)
OK thanks.
My two kids (student) occasionally doing part time jobs. Just want to see if they also eligible.
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Hmm...I think I need to open one for my kid as well now.
CommodoreAmiga
post Jul 30 2023, 12:26 PM

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QUOTE(TOS @ Jul 29 2023, 10:17 PM)
What trolling lol

I opened my EPF account just shortly after my 20th birthday. biggrin.gif

Not yet working back then, and just months before I go to HK for my BSc study.

» Click to show Spoiler - click again to hide... «


Counter officer confirmed that 14 years old is the starting age. Now I think it's 15 years old: https://vulcanpost.com/823048/child-entrepr...legal-malaysia/
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15 years old can be CEO already...why not!
CommodoreAmiga
post Sep 15 2023, 07:28 PM

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QUOTE(Lembu Goreng @ Sep 15 2023, 12:37 PM)
Can someone with more than RM2mil in EPF apply for i-saraan?
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Why not? As long no income from employer.
CommodoreAmiga
post Sep 16 2023, 06:17 AM

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QUOTE(Lembu Goreng @ Sep 15 2023, 09:46 PM)
Thanks, it’s just interesting to know that those folks can get free makan rm300/year and death benefits
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What do you mean "those folks"? Should they be penalized because they earn more and save more?
CommodoreAmiga
post Sep 26 2023, 05:54 PM

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QUOTE(Lembu Goreng @ Sep 26 2023, 05:49 PM)
there is no need to be rude in your language

if you ask nicely, i can always provide evidence (unlike you when you make unverified claims)

Nevertheless, I will still provide it here for the benefit of forumers

user posted image
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EPF got different limit? Didn't realized this. Maybe last time don't have. Not sure though.
CommodoreAmiga
post Sep 26 2023, 08:58 PM

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QUOTE(nexona88 @ Sep 26 2023, 06:10 PM)
let's the picture does the talking  whistling.gif

see who telling the truth or spreading lies all over the lowyat forum

user posted image
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Hey, i have just tried out of curiosity ...same thing happened.

Lembu Goreng. Maybe it's previous settings? You tried to change to 10k and back to 60k can or not?

This post has been edited by CommodoreAmiga: Sep 26 2023, 08:58 PM
CommodoreAmiga
post Sep 26 2023, 09:03 PM

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QUOTE(Lembu Goreng @ Sep 26 2023, 09:00 PM)
I have tried changing to 100k, and I got the same error. Like I said previously, I started self-contributing to EPF 4-5 years ago, and around the same time I set the limit to 60k.

Hope this explains.
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I have never set any limit...until now. I remember use to use the old Maybank website to transfer to EPF then. Anyway, just try changing to lower and then increase back, you proibably can't do it anymore now.
CommodoreAmiga
post Sep 27 2023, 10:13 PM

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QUOTE(!@#$%^ @ Sep 27 2023, 08:51 PM)
most importantly is not how much ur starting gaji was. is how much ur gaji progress over the years that matters.
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Nowadays, youngster all wants to get rich quick, drink setabark, buy ifong, drive Honda/Toyota. Jobs like Foodpanda riders was lucrative for those starting to work, but they didn't think it's a dead end job with no growth and whatever they are earning today, will still be the same (or less, depending on the Grab/Panda company) 30 years down the road.

QUOTE(Chiggah @ Sep 27 2023, 10:08 PM)
If I topup to EPF now self contribute. Will I still get the dividends for 2023 for remaining months (October to December) ?

Or not worth it ?

Wait for 2024?
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Yes, you should bank in before the end of the month. Maybe tomorrow is a bit late. You can consider to bank in about 4 days before month end next month.

This post has been edited by CommodoreAmiga: Sep 27 2023, 10:14 PM
CommodoreAmiga
post Sep 28 2023, 10:11 AM

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QUOTE(MGM @ Sep 28 2023, 10:06 AM)
I think if using app today will be in tomorrow even it is a holiday or weekend, latest on friday 30Sep, barring any hiccup.
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Kinda risky. If me, i won't bank in. Just put in KDI Save and bank in next 25th.
CommodoreAmiga
post Sep 28 2023, 10:16 AM

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QUOTE(coyouth @ Sep 28 2023, 12:45 AM)
thanks for sharing. what you mentioned about how you feel when you get older, that's true. read an article about this. sharing to you as below:
"In 100 years like in 2123 we will all be buried with our relatives and friends.
Strangers will live in our homes we fought so hard to build, and they will own everything we have today. All our possessions will be unknown and unborn, including the car we spent a fortune on, and will probably be scrap, preferably in the hands of an unknown collector.
Our descendants will hardly or hardly know who we were, nor will they remember us. How many of us know our grandfather's father?
After we die, we will be remembered for a few more years, then we are just a portrait on someone's bookshelf, and a few years later, our history, photos and deeds disappear in history's oblivion. We won't even be memories.
If we paused one day to analyse these questions, perhaps we would understand how ignorant and weak the dream to achieve it all was.
If we could only think about this, surely our approaches, our thoughts would change, we would be different people.
Always having more, no time for what's really valuable in this life.
I'd change all this to live and enjoy the walks I've never taken, these hugs I didn't give, these kisses for our children and our loved ones, these jokes we didn't have time for.
Those would certainly be the most beautiful moments to remember, after all they would fill our lives with joy.
And we waste it day after day with greed, greed and intolerance.
Anon"
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Who is Anon? His thoughts are like mine. I am ok with dissappearing into History. Nobody will knows who you are save for the few closest to you anyway. I have no intention of attention horsing in this world, much more the the afterlife. Worldly materials are pretty meaningless to me. The less stuff i have, the happier i am.

This post has been edited by CommodoreAmiga: Sep 28 2023, 10:17 AM
CommodoreAmiga
post Sep 29 2023, 10:53 AM

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QUOTE(ronnie @ Sep 29 2023, 10:12 AM)
is there an annual limit to the employers+employees statutory salary deductions which can go into our EPF ?
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AFAIK, no such thing. You can actually contribute way higher from your salary until around 50% or something like that. One of the taikos here have done that, can't remember who. Maybe it was wedchar?
CommodoreAmiga
post Sep 29 2023, 12:36 PM

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QUOTE(nexona88 @ Sep 29 2023, 11:06 AM)
Ooh got limit huh...

Seriously didn't know...

Because many of us didn't reach or hit the maximum limit

Typical Malaysia employer...
Always give minimal only... can dream only rtey give maximum limit employer contribution 😁
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I seriously doubt that 80% limit is an issue lor. Most malaysian will want to give 0% if can. laugh.gif

And if your salary that high and can afford 80% to be dump into EPF, then likely you are financial savvy enough to balance your portfolio in other investment vehicles, instead of Sai Lang on EPF.

QUOTE(Wedchar2912 @ Sep 29 2023, 11:44 AM)
yeah, cannot.... because tax payment takes precedence.

previously when I was working, I had pushed it above 60% before... my HR department wanted to make sure that it is always net positive cashflow to me after all deductions.
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Your HR more Prihatin then Kerajaan Prihatin. laugh.gif

This post has been edited by CommodoreAmiga: Sep 29 2023, 12:37 PM
CommodoreAmiga
post Sep 29 2023, 12:41 PM

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QUOTE(nexona88 @ Sep 29 2023, 12:40 PM)
very few actually want high deduction on EPF...

majority all enjoyment only... if can want another 10k special withdrawals in the name of "survivals"... but actual we know what these people did... which shops / places is full after the approvals of EPF money  brows.gif
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