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CEOs/ Directors/ Managing Directors/ Human CEOs/ Directors/ Managing Directors/ Human

CEOs/ Directors/ Managing Directors/ Human - PDF document

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Uploaded On 2021-01-11

CEOs/ Directors/ Managing Directors/ Human - PPT Presentation

To Resource Managers Executives Human Resource Updates Employees Provident Fund EPF Launches Employer COVID 19 Assistance Programme e CAP for Small and Medium Enterprises SMEs The Emplo ID: 829431

payment 2020 contribution epf 2020 payment epf contribution april employer fmm akaun late restructuring employers employees months details restructured

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1 To: CEOs/ Directors/ Managing Director
To: CEOs/ Directors/ Managing Directors/ Human Resource Managers/ Executives Human Resource Updates: Employees Provident Fund (EPF) Launches Employer COVID - 19 Assistance Programme (e - CAP) for Small and Medium Enterprises (SMEs) The Employees Provident Fund (EPF) released on April 23, 2020 details of the Employer COVID - 19 Assistance Programme (e - CAP) which was first announced under the Prihatin Rakyat Economic Stimulus Package 2020 on March 27 , 2020. The programme allows SME employers to apply for deferment and re structuring of Employer Share Contribution Payment . Details are as follows: Period of Deferment/ Restructuring April, May and June 2020 contributions ONLY (March, April & May 2020 wages). Qualifying Conditions i. Employers have 200 employees or less on payroll ii. All monthly contribution payments (both employee and employer portions) up to February 2020 contribution date (January 2020 wage) are in order iii. Employee share of the payment for the contribution months being applied for (April, May and June) has bee n paid up. iv. Applies to EFP - registered employers only How it works i. Deferred contribution for the respective months can be settled over a maximum period of 3 months as follows: Deferred contribution Restructured payment commences: April From July to September 2020 May From August to October 2020 June From September to November 2020 Deferment/Restructuring Application i. Commences from April 23, 2020 ii. Via i - Akaun Majikan / Employer i - Akaun @ EPF website www.kwsp.gov.my on a monthly basis Instalment payment methods for restructured contributions i. Payment via either method: 

2 i - Akaun (Majikan) ; or  EPF cou
i - Akaun (Majikan) ; or  EPF counters; or  EPF - appointed bank counters . ii. P ayment for the restructured payment is to be settled separately from the usual statutory contribution payment. iii. Full settlement is required for companies that wish to exit before completion of the restructuring plan Late Payment C harges and Dividend i. Late payment charges : I mposed on employers who fail to make contributions on time. Employer can apply for waiver / reduction of late payment charges upon the approved payment restructuring plan on a case - by - case basis . ii. Dividends : W ill be credited following the due contribution month to ensure no dividend losses due to the late contribution payment. April 2 5 , 2020 Making Malaysian Industries Globally Competitive Transparency • Integrity • Accountability GPR / 0 9 / 2020 2 Enquiries L iaise with EPF Enforcement Officer in - charge for your company for details once you have applied for e - CAP via Employer i - Akaun. The officer's name and contact number will be displayed in the i - Akaun for your reference . Enquiries @ EPF : In view of the current Movement Control Order period, all EPF offices remain closed. Members are advised to reach out to EPF via their social media platforms for responses to queries or via Direct Messaging option which is available on the EPF Facebook platform . Fur ther e nquiries @ FMM : Mr Heng Poh Suan / Mr K. Kesavan, FMM HR/IR Advisors (hradvisory@fmm.org.my) OR Cik Sofinar Abdul Halim / Puan Hema Thiruchelvam, Business Environment Division (Business_Environment@fmm.org.my). Hema Thiruchelvam General Manager, Business Environment Division hema@fmm.org.my / H