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Inbarasi
Senior Member
Joined: 05 Oct 2008 21:30
Posts: 495
Location: Perak
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 EPF contribution Assume monthly basic salary is RM4000, if ur monthly EPF contribution is 11% ( RM440 ) taxable income = RM3560 income tax payable=RM77 If your monthly EPF contribution is 8% ( RM320) taxable income=RM3680 income tax payable =RM109 Conclusion if you choose to contribute 8%, you will end up paying more income tax to the government, which will make the government richer. Finance Minister said this measure is meant to boost up the slow-down market, but from this example wee see that the money does not go into the market. Instead the money goes direct into the governments pocket through the greater amount of income tax that we will have to pay. Obviously this measure does not help the market at all.  So just make a good choice....those still not fill up the form ( Form 17 A) pls do so before end of december...
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*Inbarasi*
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| 22 Nov 2008 23:05 |
  
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Raj
Moderator
Joined: 18 Feb 2008 22:27
Posts: 1359
Location: KL, Malaysia
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 Re: EPF contribution Yea, i know this information....well for myself, i'll use the 11%....
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Raj
System Engineer
http://www.raj2u.net
A person who never made a mistake never tried anything new. -- Albert Einstein
Be open minded before ask others opinion. -- Anandharaj
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| 23 Nov 2008 15:02 |
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Arutkumar
Special Member
Joined: 28 Feb 2008 22:00
Posts: 1393
Location: Kulai, Johor (Currently in Singapore)
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Re: EPF contribution Oh it works like that huh... emmmm....
Anyway thanks for the info Inbarasi. Meanwhile if anyone out there wished to know how the CPF contribution works in Singapore can ask me. I don't mind to share with you. Since thousands of Indians are working at Singapore it's better to get knows our rights I guess.
Ok buddies. Take care.
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Best Regards,
ARUTKUMAR
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| 25 Nov 2008 16:48 |
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Raj
Moderator
Joined: 18 Feb 2008 22:27
Posts: 1359
Location: KL, Malaysia
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Re: EPF contribution Ok, tell me how "EPF" works in Singapore? It working normal office hour? or shift? ok ok, be cool....just joking....
Tell me the EPF procedure in Singapore, coz i might come there to work in future wht...
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Raj
System Engineer
http://www.raj2u.net
A person who never made a mistake never tried anything new. -- Albert Einstein
Be open minded before ask others opinion. -- Anandharaj
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| 25 Nov 2008 17:16 |
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Inbarasi
Senior Member
Joined: 05 Oct 2008 21:30
Posts: 495
Location: Perak
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Re: EPF contribution Ur welcame Arul..... so arul how is EPF contribution in singapore....is it same like in Malaysia... 
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Regards,
*Inbarasi*
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| 25 Nov 2008 19:31 |
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Arutkumar
Special Member
Joined: 28 Feb 2008 22:00
Posts: 1393
Location: Kulai, Johor (Currently in Singapore)
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Re: EPF contribution No it's different. Here we go by groups where the citizens will be divided to groups by their age. The contribution for younger generation will be high. Same as Malaysia at here also got employee and employers contribution. But the employee and employer contribution itself vary. Depend to the age group. Besides that if you were contributing CPF at Singapore, your employer must pay SDL (Skill development Levy). This fund will be transferred as skill development fund (SDF). If you are having SDF than the payments for the courses for company sponsored applicant will be very low. The employer will use the SDF fund to pay the course charges. If you need aditional information feel free to ask me.
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ARUTKUMAR
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| 26 Nov 2008 16:11 |
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Inbarasi
Senior Member
Joined: 05 Oct 2008 21:30
Posts: 495
Location: Perak
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Re: EPF contribution ohhh....If the CPF contribution according to the age, what the maximum age for contribution and withdrawing from CPF .Is SDF just for courses or its just like SOCSO? thanks alot Arul...forgive me if i asked silly question..
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Regards,
*Inbarasi*
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| 27 Nov 2008 21:19 |
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Arutkumar
Special Member
Joined: 28 Feb 2008 22:00
Posts: 1393
Location: Kulai, Johor (Currently in Singapore)
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Re: EPF contribution No Inbarasi it's not like that. I believe every question will help us to find a sollution or come up with new invention.
Well about the CPF, you can still contribute for those above 55 years old. But you can withdraw it once you have resigned. I think the max age for the professionals is above 55. But I’ll find out and confirm with you. You see your question had made me think. I’m going to learn one new thing. Thanks for that.
SDF is a fund to develop our skills could be either practical course or other educational course. It’s not like Socso.
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ARUTKUMAR
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| 02 Dec 2008 19:23 |
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Inbarasi
Senior Member
Joined: 05 Oct 2008 21:30
Posts: 495
Location: Perak
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Re: EPF contribution Ohh SDF not same as SOCSO...then wat they have for industrial accident.In m'sia it will cover by SOCSO...so how abt there...
Thanks for the info arul....
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Regards,
*Inbarasi*
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| 03 Dec 2008 23:13 |
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Raj
Moderator
Joined: 18 Feb 2008 22:27
Posts: 1359
Location: KL, Malaysia
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Re: EPF contribution Guys,
Go back to our original topic, i would strongly suggest for those who just started work / still single, to increase their EPF contribution more than 11%....For myself, i have increased to 15%. This way, we can save the payable tax amount.
Example, let say our salary is RM3000
EPF 8% ( RM240 ) taxable income = RM2760 income tax payable=RM32
EPF 11% ( RM330 ) taxable income = RM2670 income tax payable=RM26
EPF 15% ( RM450 ) taxable income = RM2550 income tax payable=RM0
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Regards,
Raj
System Engineer
http://www.raj2u.net
A person who never made a mistake never tried anything new. -- Albert Einstein
Be open minded before ask others opinion. -- Anandharaj
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| 03 Dec 2008 23:33 |
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Arutkumar
Special Member
Joined: 28 Feb 2008 22:00
Posts: 1393
Location: Kulai, Johor (Currently in Singapore)
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Re: EPF contribution Oh that one ah. Well at Singapore the company will have a Workman Compensation which acts as SOCSO. Besides that the employer must take the foreign worker medical insurance for their workers.
About the age of contribution, you can contribute until that person die. That's the specialty here. But the max age for work has been increased to 65. After 65 you can withdraw the money but not all. Your CPF will be divided to 3 accounts. 1st was special account, 2nd was medisafe and last one was the CPF (something like savings). After 65 you can touch the CPF and the special if I’m not mistake but not the medisafe. Here if you go to government hospital you’ll get heart attack if you get the bill. On that situation you can use you medisafe.
Hi Raj we might be out of topic but it's important to get know about other countries practice. For the time being few thousand Malaysian working here but how many of them aware about this?
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Best Regards,
ARUTKUMAR
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| 06 Dec 2008 10:01 |
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Inbarasi
Senior Member
Joined: 05 Oct 2008 21:30
Posts: 495
Location: Perak
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Re: EPF contribution ohhh...its works like tht huh..One more question, lets say the worker didn’t use his/her SDF ...did they will get back the money whn they resigning...i think their CPF is much better than our KWSP. Anyway arul thanks alot for the information.i hope it will help others to understant about the CPF...
Yup raj , im agree with u...
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Regards,
*Inbarasi*
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| 06 Dec 2008 19:13 |
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Raj
Moderator
Joined: 18 Feb 2008 22:27
Posts: 1359
Location: KL, Malaysia
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Re: EPF contribution Arutkumar wrote: Hi Raj we might be out of topic but it's important to get know about other countries practice. For the time being few thousand Malaysian working here but how many of them aware about this? Hi Arul, Actually we still in the same topic, i just mention about "go back to original topic" is because the sample calculation that i gave is related to the initial example. Otherwise people might get "interpret" that to Singapure's example... 
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Regards,
Raj
System Engineer
http://www.raj2u.net
A person who never made a mistake never tried anything new. -- Albert Einstein
Be open minded before ask others opinion. -- Anandharaj
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| 09 Dec 2008 15:09 |
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Arutkumar
Special Member
Joined: 28 Feb 2008 22:00
Posts: 1393
Location: Kulai, Johor (Currently in Singapore)
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Re: EPF contribution Oh ok ok. I thought the other way around. Anyway thanks a lot for the EPF calculations. Till date I never realize about it.
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Best Regards,
ARUTKUMAR
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| 10 Dec 2008 10:02 |
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Raj
Moderator
Joined: 18 Feb 2008 22:27
Posts: 1359
Location: KL, Malaysia
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Re: EPF contribution Hi Arul,
Regarding the SDF, where does this fund goes? any particular organization who handle this? Or just the company itself keep in their account - later to be use to send their staff for training?
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Regards,
Raj
System Engineer
http://www.raj2u.net
A person who never made a mistake never tried anything new. -- Albert Einstein
Be open minded before ask others opinion. -- Anandharaj
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| 27 Feb 2009 18:09 |
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