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 EPF for Foreigner? WHY?, High Interest Return for them too???

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diffyhelman2
post Oct 21 2024, 12:36 PM

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QUOTE(Cookie101 @ Oct 21 2024, 12:32 PM)
Everybody so that people who remains in the country cannot withdraw until they decided to leave the country… the same principles apply to all foreigners working in Singapore
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Foreigners in SG no pay into CPF, only PR and citizen.

That said, even SG people voiced concern that employers would favor hiring foreigners since they dont need to pay to CPF (and thus cheaper). likely one of the reasons madani imposed this EPF rule for foreigners. after all how many time you hear grumblings here that employers hire bangla cuz cheaper than local?

QUOTE
But even in 1995, there was already concern that exempting foreign workers, especially EP holders, from CPF contributions would have negative impacts on Singaporean workers, especially the middle-ranking PMETs, because employers would benefit from lower wage costs when they employ new foreign staff.

An article in The Straits Times on 15 July 1995 noted that Singaporean workers would become less competitive against foreigners if employers do not make up for all, or some, of the CPF foregone by the foreign worker, especially if the foreigner was here on local terms. Even the then-Menteri Besar of Johor, Mr Abdul Ghani Othman, expressed his concern that the rule change would make Singapore a more attractive place to work for Malaysians, especially those from Johor.


This post has been edited by diffyhelman2: Oct 21 2024, 12:38 PM
9m2w
post Oct 21 2024, 12:45 PM

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QUOTE(diffyhelman2 @ Oct 21 2024, 12:36 PM)
Foreigners in SG no pay into CPF, only PR and citizen.

That said, even SG people voiced concern that employers would favor hiring foreigners since they dont need to pay to CPF (and thus cheaper). likely one of the reasons madani imposed this EPF rule for foreigners. after all how many time you hear grumblings here that employers hire bangla cuz cheaper than local?
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Hopefully yes together with minimum wage hike ppl get weaned off the cheap foreign labour drug. But even at 1.5K and the numerous hassles and levies etc, some factories still turn to foreigners in droves.
diffyhelman2
post Oct 21 2024, 12:54 PM

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QUOTE(9m2w @ Oct 21 2024, 12:45 PM)
Hopefully yes together with minimum wage hike ppl get weaned off the cheap foreign labour drug. But even at 1.5K and the numerous hassles and levies etc, some factories still turn to foreigners in droves.
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ayam most curious the effect they have on those coffeeshop and resto bangla and myanmar. unless the EPF contribution rate is lower than local rate, employers now have to factor in a minimum extra 12% extra into the gross pay, unless they can convince the workers that ("even though your take home pay is lower, but the money is still yours to withdraw once you leave").
anakkk
post Oct 21 2024, 12:56 PM

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to reduce the outflow of money :X

to encourage hire legal worker :X
9m2w
post Oct 21 2024, 01:07 PM

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QUOTE(diffyhelman2 @ Oct 21 2024, 12:54 PM)
ayam most curious the effect they have on those coffeeshop and resto bangla and myanmar. unless the EPF contribution rate is lower than local rate, employers now have to factor in a minimum extra 12% extra into the gross pay, unless they can convince the workers that ("even though your take home pay is lower, but the money is still yours to withdraw once you leave").
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Coffee shop I feel using lots of illegals ler haha

But they might be getting more than minimum also. I remember post mco there was a shortage of workers so won't be surprised if some offered more to pinch staff
Ayambetul
post Oct 21 2024, 01:12 PM

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Ayam no objection.

Ayam not bangala
Ayambetul
post Oct 21 2024, 01:14 PM

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QUOTE(Aftermaths @ Oct 20 2024, 10:11 PM)
Type M boleh pilih masuk zakat or kwsp kan?

Ada masuk ke tak, itu lain cerita.
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No point tok on the hopeless bunch laugh.gif


diffyhelman2
post Oct 21 2024, 01:18 PM

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QUOTE(9m2w @ Oct 21 2024, 01:07 PM)
Coffee shop I feel using lots of illegals ler haha

But they might be getting more than minimum also. I remember post mco there was a shortage of workers so won't be surprised if some offered more to pinch staff
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yea but even if they are getting more than minimum, with mandatory EPF, their celery now faces a large withholding of their gross pay . and since many of the resto are licensed and openly using many foreigners, doubt all of them are illegal.
bereev
post Oct 21 2024, 01:19 PM

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Englan also hold some of mine
Aftermaths
post Oct 21 2024, 01:25 PM

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QUOTE(nelienuxe_sara @ Oct 21 2024, 11:48 AM)
ignorance is a bliss~
aHAHAHAHAHAH can pilih masuk zakat or kwsp
u think zakat is like tabung is it?
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Duno, please elaborate 🙏🏻

Is it like donation for a specific purpose kind of stuff.
- All kind of project also need funds to operate, if not mana ada manpower?
kelvinfixx
post Oct 21 2024, 01:31 PM

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Lock their money in malaysia, prevent outflow, increase stock investment for bursa, local listed company got more investment money, earn handsome money for EPF contributor, prevent illegal worker.

EPF should only give about or less than bank interest to this group of worker.

This post has been edited by kelvinfixx: Oct 21 2024, 01:37 PM
kelvinfixx
post Oct 21 2024, 01:41 PM

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QUOTE(Blackscreamerz @ Oct 21 2024, 11:32 AM)
Frankly, collecting from expat is a form of desperation if you ask me.

EPF function is for retirement. You expect the expat to retire meh? Doesnt make common sense to ask them to contribute.
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Retirement for Malaysian, Tax on Foreigner.
kelvinfixx
post Oct 21 2024, 01:42 PM

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QUOTE(cms @ Oct 21 2024, 12:16 AM)
Sure so easy can withdraw or not ? Go back can take out
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Commit crime cannot take money, cannot just cabut.
SUSBlackscreamerz
post Oct 21 2024, 01:46 PM

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QUOTE(kelvinfixx @ Oct 21 2024, 01:41 PM)
Retirement for Malaysian, Tax on Foreigner.
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it cannot be tax, cause the likelihood of returning the epf contribution after they leave the country is very high.

QUOTE
EPF members who are not Malaysian citizens are eligible to make a withdrawal request subject to the  terms and conditions as determined by EPF.


Cause non-citizens last time must request to contribute. the only different now is compulsory.

This post has been edited by Blackscreamerz: Oct 21 2024, 01:47 PM
kelvinfixx
post Oct 21 2024, 01:49 PM

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QUOTE(Blackscreamerz @ Oct 21 2024, 01:46 PM)
it cannot be tax, cause the likelihood of returning the epf contribution after they leave the country is very high.
Cause non-citizens last time must request to contribute. the only different now is compulsory.
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Something like a retaining tax
SUSBlackscreamerz
post Oct 21 2024, 01:52 PM

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QUOTE(kelvinfixx @ Oct 21 2024, 01:49 PM)
Something like a retaining tax
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kesian double taxation nanti
nelienuxe_sara
post Oct 21 2024, 01:56 PM

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QUOTE(Aftermaths @ Oct 21 2024, 01:25 PM)
Duno, please elaborate 🙏🏻

Is it like donation for a specific purpose kind of stuff.
- All kind of project also need funds to operate, if not mana ada manpower?
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epf = force contribution
zakat = self contribute

all must deduct for epf
where got can select epf or zakat?
zerorating
post Oct 21 2024, 01:58 PM

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QUOTE(Aftermaths @ Oct 21 2024, 01:25 PM)
Duno, please elaborate 🙏🏻

Is it like donation for a specific purpose kind of stuff.
- All kind of project also need funds to operate, if not mana ada manpower?
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epf is forced retirement savings that are mandatory
zakat is just another form of taxes but its usage are limited, muslim must pay,else berdosa
freakingringo
post Oct 21 2024, 02:01 PM

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Malaysian working in Singapore also had to wait until 55 years old even they already stop working there and working in malaysia..
yhtan
post Oct 21 2024, 02:05 PM

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Government wanna lock the money in the country instead of flowing out, more EPF contribution = more loan given to government

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