I'm under employment. Inform your HR to help fill up and submit Form 17A and you need to inform your employee % you want to contribute.
My consideration to do >11% for employee is after monthly:
- pay off all loans/CC
- cover all expenses
- some liquid cash/FD savings
- some for other non-EPF investment
- additional savings for bulk that come in some months, e.g. car insurance, roadtax, travel, annual fees, professional fees, etc.

Then only commit the amount (%) additional.
You may stop or change via Form 17A anytime, but try not to over commit too much and strangle ownself. Start with a % you are really really comfortable.

Also my consideration is either hit age 55 or >1M first. Then my EPF is like a savings/FD account already, can withdraw anytime and continue to compound.

Decades. How old am I ? Look at my LYN ID joined date. But I'm still young, ok ? Not yet 55  . Everyone starts at the same starting point. My official first EPF monthly is just 1-2 hundred every month, basic salary only 1.5k. At that time, one full year employee + employer contribution is less that my current one month 13+11% contribution. Just continue to improve, grow, bla bla bla (motivation talk) to uplift ownself. I'm not the cream of the crop or the top performers, but just stay on the above-average and I think I'm on the right track.

Everyone journey is different. This EPF is an analogy of marathon 42 years. Not a 2km sprint. For the first 10 years of my EPF, I see nothing from my EPF, still below 100k. But from there onwards, the topup+compounding is much faster. 100->200->400->600->800->1M
That is why I understand the desire to withdraw when have <100k EPF, cause year in year out, dividend 6% p.a. still see nothing.

Before I start working decades ago, I've been hearing grand father stories about EPF collapse, no money, better withdraw all, etc. year by year, decades by decades. Even today, still hearing people talk the same thing. I'm the only stupid one among all friends (as they label me) that put in more into EPF decades ago consistently and here I am today as a proof. Anyway, I don't know the future, Malaysia could turn into Zimbabwe and I could be the real stupid one by then. But is ok, I've other diversified investment to help out but that is beyond this thread EPF discussion.
Whether 60k self contribute or Form 17A additional employee %, it is same. Split 70:30 Account 1 and 2
How I know ? I track in my own excel calculation on annual EPF total and dividend for both my account 1 and 2

Even before 55 also can take out for fund investment, studies, house, some serious sickness, etc.



Tonight very free reply you all. Tomorrow no need work (employee). KL holiday 

Bonus:

yes essentially... how many full months plus 1 day worth of div for the month of deposit.

so if deposit today, u will get 1 day of div for 2023, and full 2024 div.

Did one time on 25 nov, reflected 26 nov. And second time on 27 nov night time, reflected on 28 nov. Both next day reflected.
Seems if you did it on 28 nov got chance it gets updated before month end.

ya kah? surprised if i Akaun works every day and any day

surely got people deposit via KWSP i Akaun can confirm
i did it via bank website

you can only do that if your taxable income is below RM100k per annum. A ringgit after that attracts 25% tax.

That's why i'm very slim. Anyway, lasted a few months before VSS. So i dont know long term survivability.

the situation will become completely opposite if you have RM1mil in the EPF now.

It became your high interest saving acc.

Needs more information on CC application using EPF as collateral....

So far I know... No bank uses them... Only as reference for your monthly contribution.... To cross check with your monthly salary....

EPF rich but cant touch
ASM average as this year dump 100k into EPF
Cash poor but sustaining via salary
keeping my finger crossed so wont kena

Earning 150k , if do self contribute 100k, means contribute about 67% of earning.

100k self contribution if is equivalent to 20% of income means income 500k income

100k self contribution if is equivalent to 10% of income means income 1 million income

repositioning/rebalancing of funds from FDs and such into EPF.

those who are earning 500K to 1m pa type of income would have already have way more than 1m in EPF... all it takes is like 3 to 4 years to get there for the 1m chap, while the 500K chap is like 6 to 7 years.

plus they don't suddenly reach that lvl of income overnight.. would have accumulated a decent amt along their career.

I think those that can put in 100k are those that has 100k money that they don't intent to touch for many years.
Or those (above 55) that has 100k investable money but just wanted it to be safe.
Or those (below 50) previously put in 100k yearly are thinking that once it hit excess 1mil mark, they can get back 55-60k annualy to spend as passive income....FIREd

Moving funds from ASM and UT into EPF
For salary I have increase it to 20% for quite sometime now
More like rebalancing and once u hit your goal in EPF then the style changes and depends on risk appetite and age.

For me I am slowly selling my UT to fund my 100k self contribution since last year and this year as to reduce my exposure to UT. I start that when I was 50 years old. The money from UT then move into EPF.

My 100k self-contribution is not from salary, it is from other sources such as dividends, etc.

Overseas Malaysians would already have the host country's own version of retirement funds...like Superannuation in Oz, 401K in the states or CPF in SG.

Whether they need to maintain a sizable balance in EPF debatable, and really depends on their retirement plans. Specifically, if they intend to retire back in Malaysia. If they do, they are in luck as the geographical arbi already works in their favour and they may find EPF to be redundant.

for malaysian who is a PR if they give up their PR status can they take out all the money? just curious how PR works when come to their CPF

From Gemini
Yes, you can
withdraw all your Medisave (and other CPF) savings if you are no longer a Singapore Citizen or Permanent Resident and have permanently left Singapore. This applies to foreigners who were previously working in Singapore and contributing to their CPF accounts.