Isinar Kwsp com My (Jan) Know the Benefits! >> From this article, Malaysian people will get the benefits of EPF, but before applying, check their eligibilities by this article.
Isinar Kwsp com My: Due to covid-19, many people lost their jobs across the world. Only in Malaysia, one in five Malaysian citizens lost their jobs or previous works, and thousands of people are expected to end up in business or employment due to covid-19. But to cover their losses and daily income wages, the Malaysian government made some changes in their Employee Provident Fund policies. With the change of these policies, employees can now receive a maximum withdrawal amount of RM 10000, and from the account, persons will get coverage of RM 60,000.Let get more details about it.
What is Isinar Kwsp com My EPF?
The employee provident fund is one of the oldest retirement funds globally and was established in 1951. Further, in every country this is EPF accounts will handle by different authorities. In Malaysia, it was directed by I-Sinar during the covid-19 Pandemic. The Purpose of the I-Sinar Facility is to help the people to survive the Covid-19 Pandemic.Last year in November, during the budget of 2021, financial minister Tengku Datuk Seri Zagrul Tengku Abdul Aziz announced the details of I-Sinar. According to this speech, maximum withdrawal Limits has increased to RM10000 and RM 60000. Further, the application to withdrawal these limits began in Mid- December 2020. But, not everyone can withdrawal this amount. There are certain limits.
Who can get the benefits of Isinar Kwsp com My EPF?
From this new bill, only those people will get benefits who suffered significant impacts on their incomes. In these significant impacts, those people covered who lost their jobs and reduction in their monthly pays. Further, eligible people start to apply this from mid of December 2020, but most of the masses don’t understand it. Those who applied in December will get pay in January 2021.
According to the official website from I-Sinar, 8 million members will get benefits. Let check if you are eligible or not. The eligible criteria for Isinar Kwsp com My EPF are as follow:
It has divided into two categories.
Category 1: In-class one, members who work in the informal sector, self-employed workers, and workers in the GIG economy are eligible. They are that sector that could not contribute to their EPF accounts for a particular time due to covid-19 as they lost their jobs. Further, to eligible in this category, people don’t pay their EPF for at least two months or those whose salaries are deducted by 30%. There is no need for documents, and members can start applying online from 21 December.
Category 2: in Isinar Kwsp com My EPF second category, only those eligible whose total income is deducted by 30% or reduced by 30%. In short salaried persons are considered in this category. They have to apply with supporting documents, and the application will start from 11 January 2021.
Final verdict
With this bill; definitely, people will get the benefits of the mentioned amounts. But it is advised to check eligibilities.For more details, please write to us in the comment section.