Malaysia Exempts Late Contributions to Employee Provident Fund

Malaysia employers may make monthly contributions to the Employees Provident Fund (EPF) by the end of the following month without incurring late payment penalties from September to December 2021, the Malaysian Employers Federation announced in a Sept. 15 circular.

The EPF contribution deadline for each month is normally the 15th of the following month. The policy change is meant to ease the financial burden of employers during the coronavirus pandemic, the federation said.

Employers may also apply for the Employer Pay for Reduction initiative (e-PaR), which offers up to a 70% reduction of outstanding late payment penalties imposed for ...