It is announce on 2012 Budget which higher employer's EPF contribution rate for employee earning up To RM5K effective January 2012 wage.
As such, according to EPF Third Schedule - The employer’s share contribution for employees who receive monthly wage/salary of RM5, 000 and below will be increased by 1 percent from 12 percent to 13 percent. The employee’s share contribution rate remains at 11 percent.
The increase in the employer’s share contribution rate is effective beginning employee’s January 2012 wage/salary for February 2012 contribution.
Sage UBS Payroll Start and Sage UBS Payroll 2012 were now action on updating the EPF Policy to meet the new changes stated on the Third Schedule, EPF Act 1991.
For enquiry, please call 03-91722228. For more detail please visit www.vivid.com.my