Re: is it fair --- Enhanced EPF Contributions (EEPF)
i just been hired earlier this month ..
My manager give me contract --- Im wondering is it fair? Is it employer can hold the epf?
Enhanced EPF Contributions (EEPF)
The Company'll contribue an 3% of your basic monthly salary to the EPF like this:
* You'll be eligible for this immediately upon joining the Company
* However, the contributions will be withheld until you complete three years of service with the Company or upon expiry of your employment contract
* Then the amount withheld (including the dividend added to it in line with what the EPF declared during that period) shall be remitted to the EPF
* From that point owards, the Enhanced EPF contributions shall be made every month direct to the EPF
* (Note: If you leave the Company for whatever reason within that 3 year period or before the expiry of your employment contract, you'll forfeit the amount, including dividend withheld)