Prime Minister Datuk Seri Anwar announced that the contribution rate for foreign workers to the Employees Provident Fund (EPF) has been set at 2%.
At the Chinese New Year luncheon organized by the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM), Anwar stated that this lower rate will not burden employers compared to the initially proposed 12%.
He said, "(EPF contribution) should be implemented, but there were concerns that it would gradually increase from 2% to 4% and 6%. But that's not the case; we will maintain the 2% rate, which is already very low."
He said, "(EPF contribution) should be implemented, but there were concerns that it would gradually increase from 2% to 4% and 6%. But that's not the case; we will maintain the 2% rate, which is already very low."
He further pointed out that the current 2% contribution rate will remain unchanged until the economic situation improves.
He said the Cabinet made this decision after considering suggestions from various chambers of commerce.
He said this aligns with our focus on becoming an important nation in the region and on investments in sectors like energy and digital.
"For example, Cabinet leaders must adopt an open-minded approach, move beyond outdated mindsets, and find solutions to make Malaysia a developed country and not be left behind."
"For example, Cabinet leaders must adopt an open-minded approach, move beyond outdated mindsets, and find solutions to make Malaysia a developed country and not be left behind."
"As I often emphasize, we do not have all the answers, so we must fully leverage scholars and experts."