Employer Contribution

Employer Contribution in Malaysia

KWSP (Kumpulan Wang Simpanan Pekerja) or Employees Provident Fund (EPF) is a retirement saving scheme for individuals who are employed, self-employed or business owners in Malaysia. A person employed by an employer under a service contract or apprenticeship is liable to contribute towards EPF, unless they are covered by the First Schedule, Second Section of the EPF Act 1991. EPF is governed under the Employee Provident Fund Act 1991. EPF contribution will be managed and invested under Simpanan Konvensional and Simpanan Shariah. The saving is comprised of the employee’s and employer’s monthly contributions and yearly dividends earned.

Employer Contribution

Employer Contribution in Singapore

As an employee, you might have noticed some deductions from your monthly gross salary as stated on your payslips. However, as an employer, if you are planning to employ talents from Singapore, there are some monthly contributions that you have to make towards Employee Contributions Fund and Social Security Contribution for your employee’s benefit as required by local labor law in Singapore, namely Central Provident Fund (CPF) and Skill Development Levy (SDL)