KUALA LUMPUR: Employers must use the Employees Provident Fund (EPF)’s e-Caruman facility exclusively beginning 1st Jan, 2017, as the retirement savings fund organisation is scrapping its Form A manual system of payment.
The EPF today launched its e-Caruman Contribution Payment Transformation Programme in a bid to encourage more employers to switch to the online facility when remitting their monthly EPF contributions.
The e-Caruman is now integrated with FPX (an online payment solution provider) to allow employers to make online payments directly from the e-Caruman portal and mobile app at zero transactional charge.
The e-Caruman Contribution Payment Transformation Program is a joint collaboration between the EPF and the Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear), a wholly-owned subsidiary of Bank Negara Malaysia and the operator of FPX.
"This program is in line with the EPF's objective of reducing dependence on counter services, expediting mobile transactions and improving overall experience in dealing with the EPF.
“Employers will find that using the FPX system will make processing EPF contribution payments easier and more secure," EPF chief executive Datuk Shahril Ridza Ridzuan said in a speech at the launch of the e-Caruman Contribution Payment Transformation Program here today.
Since its roll-out in January 2013, the e-Caruman facility has been well received. As of Sept 2016, more than 95 per cent of employers were utilising the facility to submit their Form A’s every month.
"Since they are already comfortable using e-Caruman, we now urge companies to advance towards making payments using FPX embedded in the e-Caruman system," Shahril said.
As of Sept 2016, 418,411 active employers have utilised the e-Caruman facility to submit their Form A’s online, with payment amounting to RM4.4 billion.
However, only 20.15 per cent, or 98,682 employers, remit their contribution payments online, amounting to RM1.57 billion.
MyClear managing director Peter Schiesser said FPX is a convenient, secure and efficient means of paying monthly EPF contributions.
He added that using FPX for e-Caruman is free for employers, with no transaction fees. It also allows companies to pay via both retail banks and corporate banks and is available 24 hours a day, seven days a week, at 27 participating banks.
In addition to being registered with the EPF's i-Akaun, employers are required to have internet banking account services with respective participating banks to enjoy FPX services.
Companies with less than 10 employees may also monitor their accounts via the Employer i-Akaun mobile app, which was introduced in April this year.
Employers are also able to search for their employees' information, as well as look up past records on credited contributions, Form A’s and payments made through the app.