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News EPF Account 3 to go live on May 11

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Kr0ll3R
post Apr 26 2024, 04:04 PM

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Is it safe to say that at the end of the year, I transfer all my account 3 balance to account 1/2, this consider as voluntary contribution for the tax relief, right?

This post has been edited by Kr0ll3R: Apr 26 2024, 04:04 PM
LaiN87
post Apr 26 2024, 04:24 PM

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QUOTE(budaken @ Apr 26 2024, 09:29 AM)
so means let's say i have 10k in 2nd account, how much really can i draw to my upcoming 3rd account?
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As someone said before, max amount is 3.3k if your acc 2 have 10k now.

Explanation:
Any amount more than 3k: 1/3 goes Acc3, 1/6 goes Acc1, 1/2 remain acc2.

So if you have 10k in Acc2, you can opt in for 10k. But only 3.3k will go into Acc3. 1.67k will go into Acc1. 5k remain in Acc2.

Above is max amount. You can opt in lower than 10k. 5k eg is acceptable. Then divide all the amount above by half.

QUOTE(Kr0ll3R @ Apr 26 2024, 04:04 PM)
Is it safe to say that at the end of the year, I transfer all my account 3 balance to account 1/2, this consider as voluntary contribution for the tax relief, right?
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Doesn’t work that way. You need to physically take that amount out of Acc3 to ur bank acc. Use I-Akaun to deposit 3k back into EPF self contribution. And your acc3 will have rm300 more after that smile.gif

alexkos
post Apr 26 2024, 04:27 PM

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finally got extra cash to fund ayam Axia 1.0L E Cash RM22,000

IDUP MADANI
budaken
post Apr 29 2024, 02:44 PM

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QUOTE(poweredbydiscuz @ Apr 26 2024, 09:32 AM)
Account 2 = Akaun Sejahtera
Account 3 = Akaun Fleksibel

So 10k x 10/30 = 3.33k you can withdraw.
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QUOTE(LaiN87 @ Apr 26 2024, 04:24 PM)
As someone said before, max amount is 3.3k if your acc 2 have 10k now.

Explanation:
Any amount more than 3k: 1/3 goes Acc3, 1/6 goes Acc1, 1/2 remain acc2.

So if you have 10k in Acc2, you can opt in for 10k. But only 3.3k will go into Acc3. 1.67k will go into Acc1. 5k remain in Acc2.

Above is max amount. You can opt in lower than 10k. 5k eg is acceptable. Then divide all the amount above by half.
Doesn’t work that way. You need to physically take that amount out of Acc3 to ur bank acc. Use I-Akaun to deposit 3k back into EPF self contribution. And your acc3 will have rm300 more after that smile.gif
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thanks for the clarfication
Pain4UrsinZ
post Apr 29 2024, 02:48 PM

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QUOTE(ye0073 @ Apr 25 2024, 01:04 PM)
For those who wants to opt out, can withdraw the money from account 3, and put it back thru self-contribution and enjoy tax relief of 7K.

user posted image
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u think epf sozai mie,like SSPN also calculating deposite + minus any withdrawal
Pain4UrsinZ
post Apr 29 2024, 02:51 PM

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this is a scam, after restructuring my Account 1 from 72% of total become 75% of total, they just want to lock more money in Account 1 for many years

This post has been edited by Pain4UrsinZ: Apr 29 2024, 02:51 PM

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