Employees Provident Fund (EPF) has published a FAQs on the Employer COVID-19 Assistance Programme (e-CAP) where qualified SMEs may apply for EPF EMPLOYER SHARE CONTRIBUTION DEFERMENT. SMEs should take this opportunity to plan the cash flows on this difficult period.
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EMPLOYER COVID-19 ASSISTANCE PROGRAMME (EPF EMPLOYER SHARE CONTRIBUTION DEFERMENT) |
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| What is this? | Assistance in terms of EPF Share Contribution deferment to qualified SMEs. | ||||||||||||||||||||||||||||||||||||||||||||||||
| Who eligible? | SME employers who:
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| When? | Mar, Apr & May 2020 wages
(Apr, May & June contribution payment) |
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| How? |
Illustration
*This is only a proposed illustration. The actual scheme may varies upon approval from EPF. |
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| Pros |
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| Cons |
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| How about usual statutory contribution? | Restructuring payment does not include the usual statutory contribution payments. This is to be settled separately. | ||||||||||||||||||||||||||||||||||||||||||||||||
| Longer application period? | Payment must be settled by 30 December 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Application | Beginning 23/04/2020 | ||||||||||||||||||||||||||||||||||||||||||||||||
Source:
EPF Official Website announcement (https://www.kwsp.gov.my/en/ecap-faq)
For more information, please click KWSP – eCAP FAQ
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