Business & Creativity, Malaysia, Numbers

Employee Provident Fund

In Malaysia, the EPF (also common known as KWSP or Kumpulan Wang Simpanan Pekerja) is a social security institution formed according to the Laws of Malaysia, Employees Provident Fund Act 1991 (Act 452) which provides retirement benefits for member through the mandatory contribution from two parties: a portion of an employee’s salary and employer’s contribution on behalf of their workers. ~3E Accounting

2021 EPF dividend has been declared at 6.10%. One of the highest percentage in the duration of five years. Not bad for a developing country, which has to endure a global pandemic.

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