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 EPF - self contribution, need advise

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kiddokitt
post Feb 26 2023, 07:31 AM

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QUOTE(RigerZ @ Feb 26 2023, 07:11 AM)
Yes I saw this too.

So lets say my statutory contribution in a year is RM2000
And then I self contribution another RM3000

I can only claim tax relief for RM2000?
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No, from my understanding of what I read, it’s RM4000. Total up both statutory and self-contribution to add up to 4000.
kiddokitt
post Dec 13 2023, 11:55 AM

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QUOTE(ronnie @ Dec 13 2023, 08:37 AM)
Can we do Self contribution at the EPF counters ?
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Can actually do bank transfer. I fully used up my 100k limit using this way. Took 3 days for EPF to reflect it in a statement to me.
kiddokitt
post Dec 21 2023, 06:40 AM

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QUOTE(gashout @ Dec 21 2023, 05:21 AM)
Epf maxi. Who's ready to park 100k for 2024? 😎
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I’m ready. When will EPF open it for 2024 self-contributions?
kiddokitt
post Dec 21 2023, 08:41 AM

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QUOTE(ronnie @ Dec 21 2023, 08:38 AM)
Can I topup my son's EPF account using funds from my bank account ?
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I believe can. I’m using Public Bank’s online banking to pay into my EPF account, but I can just as easily pay into someone else’s EPF account.
kiddokitt
post Dec 27 2023, 02:28 PM

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QUOTE(leanman @ Dec 27 2023, 01:38 PM)
Any email notification once you transacted? Cannot remember as last transacted was many months ago and now I didn't receive any email confirmation
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No email, but you can check i-Akaun app and look in your inbox for messages. Go to Profile to find the Inbox.
kiddokitt
post Dec 30 2023, 10:48 AM

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QUOTE(N9484640 @ Dec 30 2023, 09:23 AM)
I remember got some difference between contributing using EPF App vs from bank but cant remember which is easier and faster. Anyone come to any conclusion on this?
I seem to remember like do from Maybank, you can do one shot 60k last time, no need worry about any limit settings. From EPF app, you need to abide by FPX settings etc
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I use Public Bank online banking (website). I don’t use the EPF app and not FPX.

With PBe, the limit is RM100k per EPF self-contribution transaction.

This post has been edited by kiddokitt: Dec 30 2023, 10:48 AM
kiddokitt
post Jan 9 2024, 01:19 PM

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QUOTE(nexona88 @ Jan 9 2024, 11:22 AM)
Don't understand...

U mean the menu in our bank online page?
The one stated EPF payment??

Or got other method in the online banking page I don't know about???
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Public Bank website banking allows for full 100k in one transaction. Use the “Payment” function.
kiddokitt
post Jan 25 2024, 01:05 PM

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QUOTE(magika @ Jan 25 2024, 12:36 PM)
MBB online website 50k max.
I used to contribute 60k one shot every year, now unable
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Strange that Public Bank online website can go to full max of 100k in one transaction. Dunno why different banks put different maximum values.
kiddokitt
post Jan 26 2024, 12:51 PM

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QUOTE(virtualgay @ Jan 26 2024, 09:12 AM)
lai lai lai 100k
btw epf app down
anyone face the issue?
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I oredi finished the 100k quota early this week. But still not yet reach 1mil. Sigh…
kiddokitt
post Jan 26 2024, 01:27 PM

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To be truthful, my siblings and I sold our childhood home and this is my share of the spoils. And I still have another 100k to go to self-contribute into my EPF, but that will have to wait till next year. In the meantime I put into FD first.
kiddokitt
post Feb 2 2024, 04:20 PM

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QUOTE(virtualgay @ Feb 2 2024, 03:39 PM)

2028 - 55 years old is when i retire
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Sorry, isn’t the retirement age 60? Why retire at 55 then?
kiddokitt
post Mar 14 2025, 01:55 PM

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QUOTE(confusedway @ Mar 14 2025, 11:26 AM)
Dear sifus, when i read through the comment you guys keep mentioning the 1.3m dividend payout is not enough to survive thing... what about the capital of 1.3m going??? u r not using it in any condition or keeping it for grave yard??? how can u just spend what dividend u have when u retired??? after you have gone the 1.3 contribute to government??? your kids cannot start their own life and accumulate their 1.3 or 13m in future??? sorry ya just thinking out loud...
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I know what you mean, but to me, I will be a single divorced pensioner and I don’t plan to depend on my two children to support me through my retirement years. So I will live on my 1.3m dividends and try to make ends meet.

And yes, when I die, my two children will get my 1.3m and I won’t begrudge them.

 

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