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ivy
06/02/2009 09:35:50
Re: WELCOME TO PROVIDE YR COMMENT ON EPF MATTER

That day when i filled- up the KWSP form, requested to maintain the EPF contribution rate at 11%, i found a non-sense clause stated in the form under Remarks portion.

It mentioned the maintaining of 11% will be abolished if we no longer service in our existing company ( the existing company that we used the filled in the form as existing employer.)

Meaning, after submitting the form we have to stay with our existing company, otherwise if we join others company , our EPF rate will be automatically reduced to 8% as governed by the Government. Do you think it is make sense??!!

pls comment yr opinion in this case.


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KL Siew
kl_siew@yahoo.com
06/02/2009 09:57:12
I think you will have to check with EPF. I read from the newspapers recently there were some changes in the employee's shares of contribution in view of the current economic downturn where the employee's shares would be reduced from11% to 8% unless the employee opts for 11%. You better check with EPF to make sure, as I may be wrong about it.
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ivy
06/02/2009 11:55:34
yes. i knew.

i am one of the employee who opts for 11%. I meant when i filling up the form, there is a clause mentioning that " for those who apply, the employee's contribution to EPF will remained at 11%, but will back to 8% if we resign from the existing company".

in my opinion, the 11% shall remained, no matter on whether we change the job.
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KL Siew
06/02/2009 12:28:52
No, I think when you change job you will have to opt for 11% again with your new employer if you don't want the reduction to 8%. That's how I understand. Anyway, EPF is the proper place for you to seek clarification.
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