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2% less EPF contribution by employees?

  • The recalibrated Budget 2016 to be unveiled by PM Najib Thursday is expected to be geared towards two main directions: to increase cash flow and government revenue.

KUALA LUMPUR, Jan 26 (MySinchew) -- The recalibrated Budget 2016 to be unveiled by prime minister Datuk Seri Najib Tun Razak on January 28 is expected to be geared towards two main directions: to increase cash flow and government revenue.

The government has during the 2008 financial crisis introduced a measure allowing EPF members to choose to contribute 2% less. Nevertheless, the response was poor.

EPF aside, the government may also look into the measure allowing employers to stop paying Socso for their employees while the employees will continue to pay on a month basis.

Analysts believe these two measures can help boost the disposable income of the public to further expand the cash flow in the local market.

 

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