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#Budget2023: Voluntary EPF Contribution Cap Increased To RM100,000

It's currently at RM60,000 a year.

By Sadho Ram — 07 Oct 2022

Cover image via Malaysiakini

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Voluntary Employees Provident Fund (EPF) contribution will be increased to RM100,000 a year, Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz announced while tabling the #Budget2023

Tengku Zafrul said that the move is necessary to help Malaysians with their retirement savings.

It's currently at RM60,000 a year.

Stay tuned for our overview of #Budget2023!

Image via SAYS

Read more #Budget2023 stories on SAYS:

#Budget2023: RM8 Million Allocated To Help Domestic Violence Victims

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#Budget2023: A 6-Year Tax Exemption For Women Returning To The Workforce

The tax exemption is for 2023 to 2028.

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#Budget2023: Malaysian Taxpayers Will See A 2% Decrease In Income Tax

The 2% decrease will apply to those earning between RM50,001 and RM100,000 per annum.

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