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EPF contributor beware! Must apply to remain 11% EPF.

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EPF

To remain 11% contribution to EPF must apply.

Budget 2016 stated that employee can contribute 8% or remain 11%, to those who want to remain must apply for it.

KWSP stated that who ever want to remain 11% must fill up the form (KWSP 17A Khas 2016) and pass it up.

Employees are able to download the form from the KWSP starting from 2nd of February and pass it to the employer then hand up to KWSP. The notices do not mention any due date of the last submission of the form.

If employees do not apply, their EPF will automatically reduce by 3% starting from March to December.

Reduction of the contribution of EPF is mean to enable people in the country to have more cash in hand and to boost up the slow market said by Prime Minister Datuk Seri Najib Tun Razak.

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