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Given the economic situation due to the pandemic in 2020/2021, it was announced at Budget 2021 that employees would have the option to reduce their statutory contributions to the EPF from 11% to 9%.
The KWSP in a recent update has announced that the required statutory contribution for employees will now revert to 11%.
Starting July 2022 (which means the first contribution with the reverted rate will be in August 2022) the contribution rate will return to 11%.
If you need to keep up to date with the latest updates and changes to regulations, our team can help you with our one-click solution to HR and payroll. Contact us today.