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Frequently asked questions.
Any salaried employee with a monthly income of less than 15,000 INR needs to compulsorily be a member of the EPF. An employee with a monthly income higher than INR 15,000 (the current prescribed limit) is eligible to become a member of the EPF if he/she gets approval from the Assistant PF Commissioner and employer.
PF is the popular name for EPF or Employees' Provident Fund. Only employees of companies registered under the EPF Act can invest in the EPF or PF. Both the employer and employee are required to contribute 12% of the employee's basic salary and dearness allowance every month to the EPF account.
To meet short-term needs, partial early withdrawal from EPF is permitted but only on certain conditions. Investors are suggested not to make withdrawals from their Employees' Provident Fund (EPF) until maturity as it works on compounding and the corpus if allowed to build up, can reap huge benefits.
Self-employed, those who do not earn a regular income and housewives can make voluntary EPF contributions to claim the tax relief. In addition, will receive additional special incentive of 15% subject to a maximum of RM250 annually for members aged below 55 years old.