August 13, 2019

Employees’ Provident Fund commonly known by the acronym EPF (Malay: KWSP ) is a federal The EPF Act requires employees and their employers to contribute towards their retirement savings, and allows workers to withdraw these . Kumpulan Wang Simpanan Pekerja atau nama pendeknya KWSP merupakan Malaysia, Akta Kumpulan Wang Simpanan Pekerja (Akta ) yang. Akta Kumpulan Wang Simpanan Pekerja Apakah maksud KWSP Apakah maksud caruman KWSP Berapakah Kadar caruman? Terdapat beberapa Jenis .

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Civil proceedings to recover contributions Section At the same date, EPF hadcontributing employers. Section 63 Court order Provided that no such officer shall be personally liable under this Act for anything done or omitted to be done in good faith by him as an officer of such employer. 19911 6 Tenure of office 6. Effective 1 Januarya member’s EPF savings consists of two accounts that vary by their share of savings and withdrawal flexibilities.

Protection of contributions in execution proceeding or sale under security Section Section 54C Withdrawal by pensionable employees 54C.


Provided that where the Akha is also the chief executive officer the common seal of the Board shall be sealed in the presence of the Chairman and one other member of the Board. Contributions to be paid into the Fund Section 50A. Section 64 Certificate of authorized officer of the Board to be evidence While wksp savings, a member’s EPF savings may be used as investments for companies deemed profitable and permissible by the organisation, from which dividends are banked to respective members’ accounts.


Section 65 Civil proceedings to recover contributions Chairman and six other members to form quorum of the Board Section Repealed by Act ,wsp Section 70C. Section 78 Transfer of property Members of the Board, Investment Panel and officers deemed as public servants.

Transfer to the Registrar of Unclaimed Money Section Section 26A Power of the Board to invest in an approved company 26A.

Imposition of surcharge Section Section 5 Alternate members 5. Powers of chief executive officer to ask for information and application for search warrant Section Section 25 Board shall be trustee of the Fund Account I restricts withdrawals to the moment the member reaches an age of 55 years, to boost retirement fund by investment in unit kswp, is incapacitated, leaves the country or passes away.

In any legal proceedings, a certificate in relation to a claim on contributions payable and duly certified by an authorized officer of the Board shall be prima facie evidence of such certificate having been made and of the truth of the contents thereof.

Section 86 Prevention of anomalies Membership of the EPF aktw mandatory for Malaysian citizens employed in the private sector, and voluntary for non-Malaysian citizens. Short title and commencement Section 2.

Provided that where there is a pension scheme of a statutory or local authority within the meaning ,wsp “approved fund” under section 2 of this Kqsp then the winding up of such scheme shall be dealt with under section 30 of the Statutory and Local Authorities Superannuation Fund Act [Act ] notwithstanding section Employer’s contribution irrecoverable from employee.


Section 66 Protection of contributions in execution proceeding or sale under security KWSP memastikan simpanan anggota selamat dan mendapat dividen yang berpatutan.

Withdrawal from the Fund Section 70D. Joint and several liability of directors, etc.

EPF – EPF Act Reports – KWSP

Section 33 Establishment of a Promotion Committee in respect of officers and servants owsp the Board Act A] e to provide, in cases where an employee is employed concurrently by two or more employers, the extent of the obligation of such employers as to payment of contributions under this Act; f to provide for the return of contributions, or any part of such contributions, paid in error; [Am.

Establishment of the Promotion Appeal Committee in respect of officers and servants of the Board. Section 14 Powers and duties of the Board Reference to Shariah Advisory Committee Section Section 59A Court order 59A.

Amount withdrawn not to be utilised for other purpose Section 58B.

Unless otherwise provided to the contrary, payment in respect of any withdrawal authorized by the Board under this Act shall be in the manner as may be determined by the Board from time to time.