Thursday, December 04, 2008
EPF Contribution in Malaysia
Worldwide is entering into recession period, Malaysia is no way to be escaped from this big blow. Retrenchment is happening everywhere around the world, especially in US. In order to induce domestic growth, Malaysia government announced that EPF contribution by employees was cut from 11% down to 8%, in the hope to generate active internal money flow. EPF contribution by employers is remained the same at 12%. The EPF deduction is not compulsory. If you dont feel like to withdraw more money and want to maintain to 11%, you can fill up a form and submit it to EPF center.