How to make your EPF account portableDeepti Bhaskaran
If you are a salaried employee, then chances are that you have an Employee’s Provident Fund (EPF) account that you regularly make contributions from your salary deductions. You might know what the latest EPF interest rates are, but do you knowhow to calculate interest on your EPF account b...
EPF, or Employees Provident Fund, is a Malaysian agency that is controlled by the Ministry of Finance. It manages the retirement savings plan for Malaysia's private and non-pensionable public sector employees. The EPF had 12.7 million members as of the end of 2010. The dividend that EPF offe...
Your PF Account Number is a unique 22-digit alphanumeric code assigned by your employer when you join a company that offers EPF benefits. It acts like a key to your EPF account, keeping track of your monthly contributions (by you and your employer), interest earned, and your overall balanc...
Choose the right type of visa – For a business owner like you who wishes to expand your business globally, you need to make sure that you choose the right type of visa for your visit. Complete the application form online –You need to create an account and complete the UK visa applica...
Enter the formula below to calculate EPF. =IF(C14>=15000,15000*12%,C14*12%) Calculate Health Insurance and sum them to find the Total Deductions. Read More: How to Make Petty Cash Payment Voucher Format in Excel Step 5 – Estimate Net Pay Add the following formula to calculate the Net...
The exact amount credited to the employee’s account is referred to as net pay or salary. Furthermore, this is known as the in-hand pay and is the amount remaining after all deductions from the gross income has been made. To determine Net Pay, subtract the total Income Tax and Tax De...
EmployeePF Account Number. The Employees'Provident Fund Account Numberis anaccount numberthat can be used by employees to check the status of their EPF, thebalancein the EPFaccount, etc. Thenumberis mandatory for withdrawals from EPF. - Labor Welfare fund -Tick on the check box if you are ...
Once payroll is processed, a company needs to ensure its bank account has enough funds to make salary payments. The next step is getting a salary bank advice statement from the company’s branch. This statement includes details like employee id, bank account number, and amount of wages. ...
If you want to make a withdrawal from your EPF account, you will need to provide a cancelled cheque. ECS stands for Electronic Clearance Service. It allows you to move money from one account to another. You will need to send a cancelled cheque to your bank to activate this service on yo...