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07/05/2010 22:27:26
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)
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08/05/2010 01:27:43
there is no justification for the company to withheld the epf contribution. its a statutory requirement. The portion of employer to contribute epf was bound under the EPF act. So unlikely that yr company only wish to contribute 3% fm yr basic. which law are they following?
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KL Siew
08/05/2010 09:58:55
I may wish to add a bit. The so called "Enhenced EPF contribution (EEPF 3% by the employer only)" may be some sort of extra benefit above the statutory requirement. The employer will have fully complied with the EPF law as long as he has made all the necessary contribution required by the Act. So, I don't think the employer has flouted any law by having the extra benefit to encourage employees to stay longer.
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