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Legal Provisions On Withdrawal

Time Frame to Dispute the Accuracy of Withdrawal Amount

  • Members can dispute the payment amounts of withdrawal within 12 months of the date of withdrawal. Date of withdrawal refers to the date of issue of the warrant. For payments via means other than warrants, the date of withdrawal refers to the date the amount is debited from the member's account. Disputes must be submitted in writing. If no dispute arises within the stipulated time frame, then the withdrawal amount will be deemed as correct and in order [Section 57A (1), EPF Act 1991 (Amended) 2007].

Time Frame to Dispute the Validiy of Withdrawal

  • Members can dispute the validity of the withdrawal within 6 years from the date the notice of withdrawal is issued. Disputes must be submitted in writing. If no dispute arises within the stipulated time frame, then the withdrawal amount will be deemed as correct and in order [Section 57A (3), EPF Act 1991 (Amended) 2007].

Failure to Return Amount Utilised Not for Which It Was Intended

  • If an applicant does not utilise the amount withdrawn for the purpose for which the withdrawal was intended, the applicant will be deemed to have committed an offence and shall, on conviction, be liable for imprisonment for a term not exceeding six months or a fine not exceeding RM2,000 or both [Section 58A, EPF Act 1991 (Amended) 2007].

Making Untrue or Incorrect Declarations or Furnishing False Documents

  • If an applicant is found to have made false declarations or furnished false documents, the applicant will be deemed to have committed an offence and shall, upon conviction, be liable for imprisonment for a term not exceeding three years or a fine not exceeding RM10,000  or both [Section 59, EPF Act 1991 (Amended) 2007].

 

Reviewed: 10 April 2017