EPF to revert employees statutory contributions back to 11%, effective Jan 2018

PETALING JAYA: Effective January 2018, the Employees Provident Fund (EPF) will be reverting the 8% employees statutory contributions rate to the original 11%.
EPF said via a statement that the statutory contribution rate for employees' share will revert to the original 11% for members below age 60, and 5.5% for those aged 60 and above.
In line with that, the 8% contribution rate allowed for in March 2016 for contributions to the April 2016 wages/salary, following a revision of Budget 2016 will end at the end of December 2017 wage/salary (January 2018 contribution).
Meanwhile, members wishing to contribute more than the statutory rate of 11% or 5.5% may do so by completing Form KWSP 17A (AHL) or Form KWSP 17AA (AHL).
"Employers are required to ensure the right amount of contributions are deducted from their employees' salary and remitted to the EPF in accordance with the new contribution rates. The latest contribution rates for employees and employers can be referred at the Third Schedule, EPF Act 1991," the fund added.