by Victor Gan

EPF Contributions (including contributions for those above 55 years)

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I’ve been receiving many queries on this although it is not something very new. The current prevailing statutory rates for EPF contributions are as follows:

Employees earning less than RM5k in a month:

Employer’s contribution: 13%

Employee’s contribution: 11%

 

Employees earning more than RM5k in a month:

Employer’s contribution: 12%

Employee’s contribution: 11%

 

Employees above 55 years of age earning less than RM5k in a month:

Employer’s contribution: 6.5%

Employee’s contribution: 5%

 

Employees above 55 years of age earning more than RM5k in a month:

Employer’s contribution: 6%

Employee’s contribution: 5%

 

The exact contribution rates can be gathered from the Schedule to the EPF Act. For more info on what constitutes wages, kindly visit EPF’s official site by clicking this link:

http://www.kwsp.gov.my/portal/en/employers

 

Contributions will stop when the employee attains the age of 75 years.

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