6.2 Company EPF Setup

6.2 Company EPF Setup

Location: Main -> Payroll -> Setting -> Statutory Setting -> EPF Setting 

To create an EPF group, click on the 'Create' button.



It will bring you to the screen below. Insert the EPF Group Description as well as the Sequence Number. The Sequence Number is to list the position of the EPF Group.


After you have created the EPF Group, you will have to configure the EPF Group Rate.

Click on the EPF Group Description that you have created just now to enter the formula for that particular group. It will bring you to the screen below.

Insert all the required details to complete the configuration.


 EPF Group

This column shows the EPF Group Range formula that you are creating.

 Effective Date Range

Select the date range for this EPF formula.

 Age Range

Select the age range for this EPF formula.

Employee EPF Contribution

Define the percentage for this EPF formula for Employee EPF Contribution section.

1.Follow KWSP's Third Schedule - the EPF wages will follow the rounding for EPF wages according to Third Schedule.
2. Custom EPF Rate - the EPF wages will not follow any rounding from KWSP Third Schedule. 
3. Use Fix Amount - user can define a specific amount in RM as the contribution

 
Employer EPF Contribution

Define the percentage for this EPF formula for Employer EPF Contribution section.



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