【HR NEWSLETTER- JAN 2019 】
1. MINIMUM EPF RATES OF CONTRIBUTION FOR EMPLOYEES ABOVE THE 60 YEARS
The Corporate Affairs Department of the Employees Provident Fund announced on 7th January 2019, that effective January 2019 wages (February 2019 contribution), the statutory contribution rates for employees who are above the age of 60 has been revised.
Employers will now contribute a minimum of 4% instead of 5.5%. The employee will not have to contribute anything and his share of contribution is now 0%.
Employees above the age of 60 years and who intend to contribute towards the Employees Provident Fund may do so by completing Form KWSP 17A (AHL) or form KWSP 17AA (AHL). Form KWSP 17A (AHL) and form KWSP 17AA (AHL).
2. EPF TO ALIGN MONTHLY CONTRIBUTION WITH NEW MINIMUM WAGE ORDER
Beginning Jan 1, 2019, the minimum contribution of employees and employers to the Employees Provident Fund (EPF) will be aligned with the Minimum Wages Order (Amendment) 2018 of RM1,100 for both Peninsular Malaysia, and Sabah and Sarawak.
The EPF said a minimum contribution of RM264 was expected to be received from every worker who earned monthly wages, subjected to being employed for the full month, under the new measure.
Different minimum contribution may apply to members who are salaried on a weekly, daily or hourly basis.
For more information, kindly refer to EPF website at http://www.kwsp.gov.my or contact 03-8922 6000
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