For self-employed, do you know that there are 2 types of self-paid provident fund? The first type is reqired to register at the KWSP or register online, while the second type does not need to register at the EPF branch.
Data shows that more and more people in Malaysia are engaged in the gig economy or become self-employed, and such people are not entitled to the benefits of the Employees Provident Fund. To protect these people’s life after retirement, the KWSP encourages them to have their perosnal EPF.
However, it should be noted that there are two types of self-employed EPF. The first type is to register with the KWSP, which is the i-Saraan scheme. Self-employed persons participating in the i-Saraan scheme will receive 15% of the government subsidy or up to RM250. You only need to make an one-time registration, and then you can pay the EPF online every month.
The second type is that you do not need to register with the KWPS. As long as you already have an EPF account, you can deposit online directly. The method of deposit is very simple, that is, through Internet Banking. Such persons will not be entitled to the 15% or RM250 subsidy from the government.
If you want to get 15% of the government subsidy or RM250, you need to register with the KWSP and register for i-Saraan. You can also browse https://online.kwsp.gov.my/isaraanReg/, enter your ID number, and choose your occupation. Then tick and perform human-machine authentication under the terms and conditions, and then click Submit. The KWSP will process your application.
Once the application is approved, you can pay yourself EPF via online. Remember to choose i-Saraan when you pay the EPF for yourself, otherwise you will not be able to enjoy the 15% of the government subsidy.
