STATUTORY RATE FOR EMPLOYEE’S SHARE OF CONTRIBUTION TO BE REDUCED TO NINE (9) PER CENT FOR 2021
KUALA LUMPUR, 28 November 2020: The Employees Provident Fund (EPF) would like to inform that for the year 2021, the employee’s share of the statutory contribution rate will be reduced from 11 per cent to nine (9) per cent.
This new statutory contribution rate for employees applies only to members below 60 years old who are liable for contribution. For members aged 60 years old and above, the statutory contribution rate for employees remains unchanged.
The new rates will be in effect for an entire year, affecting wages for the months of January 2021 (February 2021’s contribution) up to December 2021 (January 2022’s contribution).
Members who wish to maintain the contribution rate for employees at 11 per cent may fill in the Borang KWSP 17A (Khas 2021) form, which will be made available on the EPF website (www.kwsp.gov.my) starting 1 December 2020. The completed form must then be submitted to their respective employers for online registration via i-Akaun (Employer), which will begin from 14 December 2020. Employers are also required to keep the form received for their record.
For more information, members may refer to the EPF website or contact the EPF Contact Management Centre at 03-8922 6000.
Issued by the EPF Media Desk Corporate Affairs Department 28 November 2020
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