If the company you are working for fails to even spend the necessary time to take care of your retirement, rest assure you are “expendable”!
Also, to those who are conspiring with their employees to evade contribution to EPF, make sure you have an alternative retirement fund in place, or you will be putting too much at stake just to enjoy a short-lived gratificiation.
The Star Online on EPF Evasion…
She said that monthly, an average of 40 company directors, mainly from the small companies in the Klang Valley, were being issued court orders to have their assets seized for defaulting court ruling to make EPF contributions.
About 80% of employers registered with EPF were made up of such small sized companies.
Last year, 8,800 out of 400,000 employers registered with EPF, or 2.35%, defaulted in payments, said Rusma.
This was, however, down from 4.14% of employers who defaulted in 2002, and it was a hefty 20% 15 years ago.
Remember, your retirement fund cannot be created overnight, strategic planning is the key for a fulfilling retirement.
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