How To Calculate Epf Contribution

Each month an employee has to part with 12 of their basic pay together with a dearness allowance.

How to calculate epf contribution. Employees provident fund malaysia epf is a federal statutory body under the purview of the ministry of finance employees provident fund epf will allow education withdrawals for professional certificate programmes under budget 2020 every company is required to contribute epf calculator for its staff workers and to remit the contribution sum to kwsp before the 15th day of the following. Your epf contribution your contribution towards epf is 12 of rs 25 000 which amounts to rs 3 000 each month. Our epf calculator is one step solution to all your epf related calculation questions. Epf calculator pf calculation process epf interest is calculated according to the contributions made by the employer and employee.

Kwsp epf contribution rates. This amount is calculated each month. Epf calculator is an online tool and hence can be used anywhere anytime. For example in 2014 the dividend rate was 6 75.

It easily calculates the return on your epf contribution within no time. Your epf contribution your contribution towards epf is 12 of rs 25 000 which amounts to rs 3 000 each month. For employees who receive wages salary of rm5 000 and below the portion of employee s contribution is 11 of their monthly salary while the employer contributes 13. There are several benefits to contributing to the epf namely.

Monthly contribution rate third schedule the latest contribution rate for employees and employers effective january 2019 salary wage can be referred in thethird schedule epf act 1991 employers are required to remit epf contributions based on this schedule. To simply the math assume that your basic salary is rs 25 000 including dearness allowance. Every year the epf organization officials are change the epf interest rate. Details which you need to provide are as below.

Your epf contributions are deducted from your income tax up to a maximum of rm6 000 per annum. What it shows after entering the above information and submitting it the calculator will show how much you will save by the time you will retire. How to calculate epf contribution. For employees who receive wages salary exceeding rm5 000 the employee s contribution of 11 remains while the employer s contribution is 12.

How to use epf calculator. The 12 of the employer contribution. How to calculate epf contribution to simply the math assume that your basic salary is rs 25 000 including dearness allowance. A 10 rate is applicable in the case of establishments with less than 20 employees sick units or units that meet certain.

The interest rate earned on the epf balances as declared by the government each year.