Car Allowance Subject To Epf

Among the payments that are exempted from epf contribution.

Car allowance subject to epf. Rate of contributions the current rates are 11 for the employee and 12 for the employer but employers are advised to keep abreast with changes which may take place from time to time. Grow your savings with epf approved unit trust funds. Which payments are subject to socso contribution and which are exempted. A monthly withdrawal that aims to relief the financial burden of our members faq i lestari online.

Statutory contribution for owner spouse an act to provide for the law relating to a scheme of savings for employees retirement and the management of the savings for the retirement purposes and for matters incidental thereto. Employers are legally required to contribute epf for all payments of wages paid to the employees. Faq set an appointment. Employers can send employees contribution details payments electronically using epf e returns system in place of paper based submission of information thorough form c and.

While the act specifies that allowances are subject to epf it also specifies an overruling criteria whereby any travelling allowance or the value of any travelling concession are not subject to epf. Wearing face mask is compulsory when visiting epf branches i lestari withdrawal. If you are wonder can a owner to contribute epf and his spouse then look no further on the contribution list. Any traveling allowance or the value of any travel concession any payment paid by an employer to an employee for the purpose of travelling and transport expenses.

Service charges tips etc overtime payments. Gratuity payment to employee payable at the end of a service period or upon voluntary resignation retirement benefits. The extent of the employers obligation to contribute is limited in 2 ways. Payments exempted from epf contribution.

Payments subject to socso contribution wages for contribution purposes refers to all remuneration payable in money by an employer to an employee. Note the employer is not absolved from this responsibility on the grounds of the employee s unwillingness to contribute. Wages not subject to epf contribution. Subject to the provisions of section 52 every employee and every employer of a person who is an employee within the meaning of this act shall be liable to pay monthly contributions on the amount of wages at the rate respectively set out in the third schedule.

Epf e returns system mandatory for all employees who have more than 50 employees. Section 43 1 epf act 1991. Plan your appointment with ease online. Under section 45 of the employees provident fund act 1991 epf act employers are statutorily required to contribute to the employees provident fund commonly known as the epf a social security fund established under the epf act to provide retirement benefits to employees working in the private sector.