EPF HARNESSES DIGITALISATION WITH LAUNCH OF e-PAYROLL TO ASSIST SMEs
KUALA LUMPUR, 18 June 2021: The Employees Provident Fund (EPF) announces the launch of e-Payroll, an enhancement of the i-Akaun (Employer) portal, to help faciliate employer’s statutory obligations, including EPF contribution, digitally.
EPF’s e-Payroll provides a secure and seamless experience for employers, emphasising on automated calculations of statutory deductions and contributions to regulatory bodies. This initiative is in line with EPF’s objectives of helping employers, particularly small-medium enterprises (SMEs), fulfill their obligations to employees while making it easier and seamless for them to operate their businesses.
The e-Payroll also provides employers with the capability to digitally store the records of their employees including that of salary, helping to enhance process efficiency by reducing the time needed to manage activities related to statutory obligations.
EPF Chairman Tan Sri Ahmad Badri Mohd Zahir said: “We are well aware of the increasingly important role of digitalisation in our lives, with the COVID-19 pandemic pushing many of us to adopt digital technology at a faster speed with greater accuracy. At the EPF, we have approached this with our members’ interest in mind, and have taken the initiative to continuously improve our offerings that would benefit both employers and employees.”
“The e-Payroll service is designed to assist SME users of i-Akaun (Employer) who are not using any payroll solution or do not have the financial means to utilise a payroll solution,” he added.
The e-Payroll system was developed in collaboration with and endorsed by the Inland Revenue Board Malaysia (IRBM), Social Security Organisation (SOCSO), and Human Resource Development Corporation (HRD Corp). This close collaboration will ensure the accuracy and up-to-dateness of statutory requirements in the e-Payroll.
The e-Payroll was well-received by 600 SMEs that had enrolled in the pilot test and soft launch recently.
“The EPF continues to evolve in order to stay relevant in the face of rapid technological advances and dynamic changes in the job landscape. Digitalisation will ensure that we are able to offer the highest level of service while meeting the expectations of our members and employers,” Tan Sri Ahmad Badri added.
Issued by the EPF Media Desk Corporate Affairs Department 18 June 2021
About the Employees Provident Fund (EPF)
The Employees Provident Fund (“EPF”) is one of the oldest retirement funds in the world. Established in 1951, the EPF is a social-security organisation focused on safeguarding member savings and delivering excellent services. In recent years, in line with its vision of helping members achieve a better future, the EPF has expanded its role to encompass the creation of a comprehensive social well-being ecosystem. Today, the EPF remains steadfast in its commitment to members through consistent efforts to update and improve itself, in order to build the foundation for sustainable, holistic and equitable well-being for all Malaysians