EPF reminds employers that employee contribution rate back to 11%

By The Star

KUALA LUMPUR: The Employees Provident Fund (EPF) reminded employers on Monday that the monthly statutory contribution rate for employees has now reverted to 11% from 8% with effect from January 2011 wage.

Employers are to ensure that the correct amounts are deducted from the employees’ wages based on this revised contribution rate and remitted to the EPF starting from February 2011 contributions, EPF said in a statement.

The employees’ statutory contribution rate was lowered from 11% to 8% in January 2009 for a two-year period.

Members who had previously submitted Form KWSP 17A (AHL) Khas/KWSP 17AA Khas to maintain the contribution rate at 11% during the two-year period, would not be required to take any action.

The employers’ share of the monthly contribution to the EPF remains unchanged at 12%