KUALA LUMPUR: The adoption of the e-Payroll initiative will help reduce operating costs and optimise human resources of the services industry managed by small and medium enterprises (SMEs) and entrepreneurs, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said.
He said the digital payroll system developed by the Employees Provident Fund (EPF) would enable SMEs and entrepreneurs to focus on business matters such as marketing
As people and businesses, including SMEs, were affected by the COVID-19 pandemic, he said almost all types of industries and businesses were forced to adapt their businesses to online and digital business operation processes.
“e-Payroll plays an important role in helping employers manage employment records digitally, as well as facilitating the subscription management process.
“This e-Payroll initiative is one of the mediums that supports the government’s efforts in creating a more comprehensive social safety net in the country,“ he said when launching the system virtually today.
Tengku Zafrul said the EPF's e-Payroll facility, especially for SME entrepreneurs was in line with the JENDELA initiative which supported the entire national digital infrastructure plan, where RM21 billion was allocated over five years to improve internet connectivity, drive digitalization and optimise internet usage.
EPF chairman Tan Sri Ahmad Badri Mohd Zahir said e-Payroll was an improvement on the EPF's existing online facility, i-Akaun (Employer).
He said the EPF was aware of the increasingly important role of digitalization in everyone's lives and the COVID-19 pandemic situation has prompted the EPF to adapt to digital technology faster.
“This facility (e-Payroll) is able to automate and combine various payroll, compensation, (EPF) contribution, and deduction functions into one simple application.
“In addition, the employees would also receive accurate and correct salary and contribution slips... the employers can rest assured that through e-Payroll, the payroll function can be done accurately and correctly while saving the company's time and costs,” he said.
Ahmad Badri urged employers take advantage of and welcome the e-Payroll facility which does not involve any subscription fees and the access is open to i-Akaun users (Employers). - Bernama