treasury.gov.my (27.02.2020) The effects of COVID-19 reverberate beyond the tourism industry. Malaysian businesses, especially exporters are affected by supply chain disruptions involving factories and ports in China. Therefore, the Government will carry out immediate measures to boost local consumption growth to cushion the effect of negative external factors, while protecting local Malaysian jobs. These measures include: First : the minimum Employees Provident Fund (EPF) contribution by employees will be reduced by 4% from 11% to 7%, with effect from 1 April 2020 to 31 December 2020.
Topics
Pensions
Contribution collection and compliance