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Forms to maintain 11% EPF contribution available now

KUALA LUMPUR, 1 Dec 2008: Employees Provident Fund (EPF) members who wish to maintain their monthly contribution rate at 11% can obtain the forms from all EPF branches or download it from the myEPF website at beginning today.

Fully completed form KWSP 17A (AHL) Khas can be submitted to the respective employers for onward submission to the EPF, said the statutory body in a statement released today.

The EPF has also made available Form KWSP 17AA (AHL) Khas to facilitate employers who wish to apply on behalf of more than two employees.

Deputy Prime Minister and Finance Minister Datuk Seri Najib Abdul Razak recently announced the reduction of the employees’ monthly statutory contribution rate from 11% to 8%, effective from January 2009 wage for a period of two years.

The measure is taken to help increase members’ disposable income given the current economic climate. The higher disposable income will in turn support domestic consumption and help sustain the momentum of positive economic growth.

In relation to reduction in the statutory contribution rate which will take effect from January 2009 wage to December 2010 wage, a new monthly contributions schedule has been issued.

Members and employers may download the new schedule from the EPF website or get the schedule from any of the branches nationwide effective today. — Bernama



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