Epf Employer Contribution Rate 2019 Table
Usually employer contribution will be 12 of basic pay or 12 of rs 15000.
Epf employer contribution rate 2019 table. Kuala lumpur jan 7. Whereas employer contribution to epf will be 3 67 of rs 15000. Epf edlieps employee12 10 0 0 0 0. Employers are required to remit epf contributions based on this schedule.
6 5 ref contribution rate section c more than rm5 000. Employees deposit linked insurance scheme edils 1976. You should note that employee contribution of 12 is mandatory. The employer contribution break up is mentioned below employee s provident fund epf.
Ref contribution rate section e rm5 000 and below. But employer contribution cannot be more than the amount mentioned among the 3 methods. 13 ref contribution rate section a applicable for ii and iii only employees share. Employerdifference of ee share and pension contribution.
Employee s pension scheme eps. The employer has to contribute 12 of the basic salary towards epf. Employee s deposit link insurance scheme edlis. The latest contribution rate for employees and employers effective january 2019 salary wage can be referred in the third schedule epf act 1991 click to download.
Higher concessional contributions cap for the 2011 12 and earlier financial years. 12 ref contribution rate section a. Excess concessional contribution charge. Present rates of contribution.
Employees who receive wages salary exceeding rm5 000 the employee s contribution of 11 remains while the employer s contribution is 12. Meanwhile the employees share of contribution for this age group is set at zero the epf said in a statement today. Minimum employers share of epf statutory contribution rate for employees above age 60 who are liable to contribute will be reduced to 4 per month while the employees share of contribution rate will be 0. 0 5 0 50.
Employees pension scheme 1995 replacing the employees family pension scheme 1971 eps table below gives the rates of contribution of epf eps edli admin charges in india. The epf receives and manages retirement savings for all its members encompassing mandatory contributions by employees of the private and non pensionable public sectors as well as voluntary contributions by those in the informal sector. The minimum employers share of the employees provident fund epf statutory contribution rate for employees aged 60 and above has been reduced to 4 per month. Employee can increase his contribution as he want.