Easy Way To Pay EPF Online For More Than 200 Employees

Organizations and businesses should take a deep look at one matter that will follow them until the end of their business. What is it? It is the EPF's contribution to the employees. Employees must contribute their wages in compliance with the employer's actions. 11% of their paycheck must be contributed to their employee's account to ensure their old's times are financially secure. 

It is the standard practice in the world's labour procedure as it will reduce the bankruptcy rate economically. From the employer's view, it is compulsory to do it as it will secure the employee's loyalty and trust. Their take-home pay will be affected, but eventually, you need to deduct it from their monthly's wage.

What is EPF?

First of all, let's have an introduction to the term itself. It is a statutory body responsible for managing retirement saving funds, allowing its members to live conveniently after serving long work periods. The employers must contribute monthly savings deducted from the staff's salary. 

The range percentage is from 11% to 13%, depending on the salary. Employers need to contribute to represent the business's value, trust, and longevity. 
 

The importance of employer’s contribution

It is very good to comply with regulations as it will make your business reliable and 'bankable'. Third-party ownership can be attracted when you have recorded all the employee's contributions to scaling better. 

Other than that, you can attach your staff's loyalty. Usually, the employee seeks long-term insurance and longevity from the attached hirer. By making EPF contributions, their retirement savings plan is secured and boosting their morale faithfully.

Contributions can be made entirely online, integrated platform, i-Akaun, by EPF. You can contribute it by signing a form and paying it directly. What about large corporations? With more than 200 employees? Indeed it will be hectic if you are still blurred out about the procedure. 
 

Via i-Akaun

Every employer has its i-Akaun. Back then, you will need to sign the Form manually to get you onboard using the portal. Now, you need to sign up as an employer to manage your contributions. 

Hence, if you want to make bulk payments, it is required to make a list of your employee details in a list. To make it easier, EPF has provided you with a Form A, whereby you can key in the details, including the identification number, name, salary amount, and contributions. 

Above is the example (in PDF); while you want it in a different format, there are .csv and .txt files. 

Image sample of .csv file 

Image sample of .txt file

Suitable for all ages. All must be filled in digitally to submit to the portal. It can be filled by up to 200 employees and more. How convenient is that! You can calculate it on this site.

Once the file is saved, the next step will be to log in to the i-Akaun profile. Key in your desired ID and password to start.

Afterwards, go to 'Contribution' and directly click 'File Name'. Upload the Form A list that you constructed before. Wait for a while for loading, and you can see the list updated below:

If no errors occurred, click 'Approve'. Choose the available payment option available. It will go to the desired payment gateway, and once it is paid, the browser will go back to the EPF website.

And you are done! Retrieve your receipt and do it regularly on a monthly basis. 

Receipt and documentation

That receipt will be documented in your desired storage. There are three ways to store it: 

• Device Storage - You can store the pdf file on a desktop, laptop, mobile, or tablet. But, beware of where you want to keep it, which means the file's location. Sometimes you will get stressed out or forget where it is stored. Put a specified folder to make it visible. 
• Cloud Storage - a convenient way to store the file. You can access it anywhere and at any time. If you forgot to bring your laptop, it is easier to go to any device in your office to download or view it. But, the internet must be connected to the device that you access.
• Hard Copy Filing - the traditional way to store your document. Just print it at your office and keep it in a file. That specified file must be stored in a dry place. So it will expose any accidents that happened on that particular premise.

Keynote

One work has been done. Usually, good human resource personnel will ensure their workflow is in good progress. Organizations will expect more from this department as it requires humanized compliance knowledge. If you manage it accordingly, the credit will go to you, and you will get the best appraisal from your boss. Good career management, and we will see on another side then!

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