[Version 2.0] How To Edit/Custom EPF Contribution Rate
Kumpulan Wang Simpanan Pekerja (EPF) is a mandatory contribution that must be paid by every employee and employer. Generally, an employer has to pay as much as 13% of the total contribution share and an employee has to pay about 11% of the total contribution from the employee's basic salary.
In addition, the Mysyarikat system provides automatic epf calculation in the salary payroll calculation according to the EPF Schedule on the KWSP portal. . At the same time, Mysyarikat provides features where HR/Employers can also update the EPF rate according to the percentage (%) set in the Company's policy as well.
How to edit/custom percentage (%) EPF contribution calculation
Payment
Salary payroll
Employee salary table
Click the edit icon
Enter the basic salary of the staff
Click the "other" option in the "employee/employer rate" section
Enter the amount custom percentage (%) based on company policy
Click "recalculate
Save Changes
After the custom percentage rate (%) update step has been completed, HR/Employer can generate Payroll Month as usual and it will follow based on what is set on the "Employee Salary Table" only.
In the generated payroll month, it will display the word "Policy" on the contribution percentage that has been customized/edited. To see more details about the custom contribution, you can just click on the view icon in the employee/employer epf section.
How to Update EPF Contribution Amount on Payroll
To update the EPF contribution amount on Payroll, HR/Admin can refer to the following steps:
Step 1: Click Payment
Step 2: Click Salary Payroll
Step 3: Click the eye icon on the Payroll with the desired Preparing status
Step 4: Click the pencil icon on the desired staff name
Step 5: In the Calculation Method column, select Custom
Step 6: In the EPF Employee column, enter the desired EPF contribution amount
Step 7: In the EPF Employer column, enter the desired EPF contribution amount
Step 8: Click Recalculate
Step 9: Click Save Changes
In addition, the Mysyarikat system provides automatic epf calculation in the salary payroll calculation according to the EPF Schedule on the KWSP portal. . At the same time, Mysyarikat provides features where HR/Employers can also update the EPF rate according to the percentage (%) set in the Company's policy as well.
How to edit/custom percentage (%) EPF contribution calculation
Payment
Salary payroll
Employee salary table
Click the edit icon
Enter the basic salary of the staff
Click the "other" option in the "employee/employer rate" section
Enter the amount custom percentage (%) based on company policy
Click "recalculate
Save Changes
After the custom percentage rate (%) update step has been completed, HR/Employer can generate Payroll Month as usual and it will follow based on what is set on the "Employee Salary Table" only.
In the generated payroll month, it will display the word "Policy" on the contribution percentage that has been customized/edited. To see more details about the custom contribution, you can just click on the view icon in the employee/employer epf section.
How to Update EPF Contribution Amount on Payroll
To update the EPF contribution amount on Payroll, HR/Admin can refer to the following steps:
Step 1: Click Payment
Step 2: Click Salary Payroll
Step 3: Click the eye icon on the Payroll with the desired Preparing status
Step 4: Click the pencil icon on the desired staff name
Step 5: In the Calculation Method column, select Custom
Step 6: In the EPF Employee column, enter the desired EPF contribution amount
Step 7: In the EPF Employer column, enter the desired EPF contribution amount
Step 8: Click Recalculate
Step 9: Click Save Changes
Updated on: 14/03/2024
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