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 EPF - self contribution, need advise

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kechung
post Jul 28 2023, 11:52 AM

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For i-saraan self contribution in 1st half 2023, is there any one here already received the 15% incentive ?
kechung
post Jul 28 2023, 12:13 PM

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QUOTE(ikanbilis @ Jul 28 2023, 11:56 AM)
Not yet. If follow last year should receive in Sep.
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OK thanks.
My two kids (student) occasionally doing part time jobs. Just want to see if they also eligible.
kechung
post Jul 29 2023, 11:58 AM

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QUOTE(nexona88 @ Jul 29 2023, 08:12 AM)
Interesting...

I also want to see...

Because I got family members who working part time too (still students).... Can ask them to register i-saraan also if cam get the gomen $$$
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From EPF website, it did not specifically exclude students. Students can be freelancers (part time tutor0 or online business.


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kechung
post Sep 15 2023, 08:16 AM

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QUOTE(joice11 @ Aug 31 2023, 04:01 PM)
anyone actually received their 15% i saraan for this year? i deposit in mar, until today still no news?
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Until today i also haven't receive it.
If anyone has received, pls share, thanks.
kechung
post Sep 30 2023, 09:44 AM

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QUOTE(MGM @ Sep 27 2023, 11:52 PM)
Not too late if use app today
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I top up for my kid on 28/9/23 using maybank2u, it was captured on 29/9/23 as Sep contribution.
kechung
post Oct 19 2023, 09:26 AM

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QUOTE(nexona88 @ Oct 19 2023, 08:43 AM)
Seriously wondering what's going on...

Reasons of the delay....

Government really lack of money or what???

Too much application to process?? July - September not enough to check everything?? Nowadays all technology... Linked each other... From income, housing, Ownership of cars., ssm etc. Just click of button only 😁
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RM300 already unable to pay on schedule, yet dare to propose more in 2024.
If RM300 is half dead to pay, then RM500 is defiinitely full debt to pay.
And national debt keep ballooning.
kechung
post Nov 6 2023, 01:58 PM

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QUOTE(nexona88 @ Nov 6 2023, 08:07 AM)
I'm hoping for them to give earlier

BUT

Looks it's gonna be around December too...

πŸ˜”
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I just checked moment ago, no surprise, no miracle.........
May be in the pipeline but it's blocked.
kechung
post Nov 23 2023, 10:13 AM

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QUOTE(nexona88 @ Nov 23 2023, 08:59 AM)
AFTER SO LONG WAIT  drool.gif  rclxm9.gif

user posted image
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Yes, I got for my son also. Lump sum RM300 at one go, wonderful!!!
kechung
post Nov 23 2023, 10:23 AM

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QUOTE(coyouth @ Nov 23 2023, 10:17 AM)
walao wei. most of you guys here are already so loaded but tiap tiap hari talking and waiting for a mere rm300 and so happy that it's in.Β   laugh.gifΒ   shakehead.gifΒ  rclxs0.gif
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I think most of us here work hard to get to where we are now & we treasure every dollar & cent.

This post has been edited by kechung: Nov 23 2023, 10:24 AM
kechung
post Nov 23 2023, 03:13 PM

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QUOTE(nexona88 @ Nov 23 2023, 02:22 PM)
Expect same delay payment πŸ˜•

No more September but November now
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As a whole, in fact alright bcos self contribution in 2nd half year also received incentive within the year.
For those who has not top up, i wonder when will they receive if they top up now?
kechung
post Nov 24 2023, 09:44 AM

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QUOTE(nexona88 @ Nov 23 2023, 03:42 PM)
hmmm...
not next year huh???

already have new ruling now??

what I know those top up Jan - June Period gets the incentive around September (now is Nov)

July - Dec top up gets around March Next year (now should be May or June)...
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The facts is top up $1K in Apr & another 1K in Jul & received incentive $300 on 22/11/23.
That's why I asked.
Apparently most of you here top up 2K in 1st half & didn't notice this.
kechung
post Nov 24 2023, 11:35 AM

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QUOTE(nexona88 @ Nov 24 2023, 11:30 AM)
Ooh July also counted...

Was thinking until June only...

So now they lum January - July Period

Thanks for the information πŸ™
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Yup, from the postings here, it seems Jul is in but Aug not.
Any friends here top up in Jul also?

This post has been edited by kechung: Nov 24 2023, 11:35 AM
kechung
post Dec 1 2023, 11:49 AM

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QUOTE(nexona88 @ Nov 30 2023, 04:23 PM)
Jan - July 2023 deposits = RM300 Received in Nov 2023

Aug - Dec 2023 deposits = RM 300 receive around March 2024
so for year 2024

same thing...

Jan - July 2024 = $$$ in Nov 2024  biggrin.gif
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I think i need to clarify on i-saraan incentive.
Actuall it is still Jan-Jun & Jul to Dec.

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kechung
post Dec 1 2023, 11:50 AM

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QUOTE(kechung @ Dec 1 2023, 11:49 AM)
I think i need to clarify on i-saraan incentive.
Actuall it is still Jan-Jun & Jul to Dec.

user posted image
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It seem that so long as already registered for i saraan, top up as self contribution also counted.
kechung
post Dec 1 2023, 12:18 PM

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QUOTE(nexona88 @ Dec 1 2023, 11:52 AM)
Don't think that self contribution counted....

Only i-saraan....
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May be we wait for someone who top up i-saraan in July to confirm the exact situation.
kechung
post Aug 23 2024, 02:39 PM

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QUOTE(nexona88 @ Aug 16 2024, 02:11 PM)
Don't worries

It's automatic refunded

You don't need to do anything πŸ‘Œ

Just wait around 2 or 3 working days like that
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Yes, refund with interest some more.

On i saraan contribution, anyone already receive incentive for top up in 1st half 2024?
kechung
post Nov 6 2024, 04:00 PM

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QUOTE(MUM @ Nov 6 2024, 12:15 PM)
Not a qualified tax comment nor value added, but just a kay poh posting while we wait for qualified and value added responses to your query

EPF borne by the employer "may be" is a taxable perquisite to the employee and the total perquisite is added to the taxable income of the employee for income tax calculation purposes in the following tax year.  ... thus need to confirm it too
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EPF borned by employer is a fixed perquisite subject to epf again.
Cost to employer = $2000+220+260=2480
The employer need to adjust your gross pay to $2194.
You will contribute $242 & take home $1952.
Thee employer contribute $286 & total cost of employer remain at $2480
I think there is no way you can receive net pay of $2000

kechung
post Nov 7 2024, 11:53 AM

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QUOTE(KIP21 @ Nov 7 2024, 10:40 AM)
Question: Say I have 100k in Dec, and my son age 16, student, not working, Can I put in 100k into his EPF as self contribution? Will he get LHDN audit or is it allowable?
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First, you give to yr son 100k as gift on the condition he must do self contribution.
There is no problem for EPF.
In case IRB audit, you have a justify this amount is already declared as your income & you gifted to your son.
kechung
post Nov 7 2024, 12:00 PM

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QUOTE(GravityFi3ld @ Nov 7 2024, 10:26 AM)
so its a rounded-up figure then, got it - thanks allΒ  notworthy.gif
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Precisely, because EPF contribution is based on block of RM20.
So for salary = $2194, we use $2200 X rate, then round up to next Ringgit if got cts.

This post has been edited by kechung: Nov 7 2024, 12:00 PM
kechung
post Nov 8 2024, 01:43 PM

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QUOTE(nexona88 @ Nov 8 2024, 12:10 PM)
Transfer at EPF counter??

From parents EPF account to kids??  Already before this have this option?? I don't know such exists

πŸ€”πŸ§
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I think "mapeyeo1" is saying self contribution for kids using other funds, not transfer from his own EPF.

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