EPF Advise

Keatingb

New member

Member since 09 January 2018

Kuala Lumpur

Keatingb

14 August 2018 06:52:25

Keatingb

14 August 2018 06:52:25

Kuala Lumpur

Hello!

I am currently in the midst of negotiating with a new employer. They will contribute 12% to an EPF fund. My knowledge of EPF funds are limited, but sounds like a 401k retirement fund in the States.

If I can negotiate to have the company not open an EPF, place the 12% that would have gone into my EPF and add to my base salary, am I benefitting or shooting myself in the foot? It seems like an EPF account would save me a lot in regards to taxes, so maybe it is better to have this pretax account rather than a larger post tax salary?

Any advice would be greatly appreciated!

Thx

Gravitas

ViP

Member since 02 March 2011

Kuala Lumpur

Gravitas

14 August 2018 06:56:10

9040

Gravitas

14 August 2018 06:56:10

9040

Kuala Lumpur

Shooting yourself in the foot.

GuestPoster00978

14 August 2018 09:10:53

GuestPoster00978

14 August 2018 09:10:53

Hi, You've answered your question already. You will be saving on taxes with EPF while giving up some while converting to salary.

Not every foreigner gets a EPF contribution from the employer, so its a good thing they are providing you the EPF. I have heard people getting upto 15% against 11% of employee's contribution.