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Related Topics: | HRM Advice | EPF | |
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What is the scope of EPF? |
The Employees Provident Fund (EPF) is a compulsory savings scheme established to provide a measure of security for old age retirement to its members. Prior to 1 August 1998, expatriates and foreign workers were not required to contribute to the EPF although they may elect to do so. However, with effect from 1 August 1998, it is mandatory for all foreign workers to contribute to the EPF except for those in the following categories: · foreign domestic maids; · employees (including expatriates) who hold employment passes or expatriates who hold visit passes (temporary employment) and whose monthly wages is not less than RM2,500; · Thai citizens who enter Malaysia with a Territorial Pass; and ·
seamen. |
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