Employee Provident Fund Malaysia

A portion of an employee s salary and employer s contribution on behalf of their workers.

Employee provident fund malaysia. Kumpulan wang simpanan pekerja kwsp is a public pension located in kuala lumpur malaysia asia. The employees provident fund epf clarifies that the reduction of the statutory contribution rate for employees from 11 to 8 is for employees below age 60 while the reduction from 5 5 to 4 is for employees above age 60 starting from march 2016 wage salary until december 2017. Current assets for kwsp is 201 000 000 000 and swfi has 18 periods of historical assets 29 subsidiaries 20 transactions 2 opportunities rfps 32 personal contacts available for csv export. Kumpulan wang simpanan pekerja commonly known by the acronym epf malay.

About employees provident fund organisation. Official site providing access to online epf account and mobile phone statement. Employees provident fund malay. The employee provident fund board of malaysia operates as a government authority.

It is to be noted that the fund is paid for and contributed by both the employer and employee and is calculated as such. The employer has to be the one who submits an application for each individual employee. Epfo invites request for proposals for appointment of consultant the epfigms services is available in umang platform inviting applications from retired officers for empanelment as inquiry officer in epfo epfo won the skoch gold award 2020 in the digital governance category epfo helpdesk is operational from 7 00 am to 9 00 pm on all days. In malaysia the epf also common known as kwsp or kumpulan wang simpanan pekerja is a social security institution formed according to the laws of malaysia employees provident fund act 1991 act 452 which provides retirement benefits for member through the mandatory contribution from two parties.

Kwsp is a federal statutory body under the purview of the ministry of finance it manages the compulsory savings plan and retirement planning for private sector workers in malaysia membership of the epf is mandatory for malaysian citizens employed in the private sector and voluntary for. Includes members employers ventures information news and offices locations.