KWSP Employer-Account Application Service

Description

• The KWSP Employer-Account Application Service assists employers in registering their businesses with the Employees Provident Fund (KWSP) to fulfill their obligation to contribute towards employees' retirement savings. This service ensures that employers comply with Malaysian labor laws and provides employees with access to secure retirement benefits.

GOV Department

• Kumpulan Wang Simpanan Pekerja (KWSP) / Employees Provident Fund

License Type

• Permohonan Akaun Majikan KWSP

Details

• Employers are required to register with KWSP within 7 days of hiring the first employee.
• The account enables employers to contribute monthly to employees’ EPF savings as mandated by law.
• Registration requires documents such as business registration certificates (SSM), company details, and employee information.
• Employers must deduct and remit the correct amount of contributions each month for both employer and employee portions.

Important Rules

• All employers in Malaysia must register with KWSP if they hire employees.
• Monthly contributions must be submitted by the 15th of the following month to avoid penalties.
• Employers must maintain accurate records of employee contributions and salary details.
• Any changes in business details or employee status must be updated with KWSP.
• Employers must comply with the EPF Act 1991 and KWSP contribution schedules

Compound & Punishment

• Failure to register an employer account or contribute as required may result in:
  • Fines up to RM10,000 or imprisonment under the EPF Act 1991.
  • Interest charges or late payment penalties on overdue contributions.
• Misrepresentation or falsification of records can lead to legal action and revocation of business licenses.

Advisor