Cloud Payroll - How to create new EPF rate?
Question : How to create new EPF rate?
Example:
To set employee rate at 7%.
To set employer rate at 13% for Rate ≤ 5,000; and 12% for Rate > 5,000.
Answer :
1) Go to Tools > General Maintenance > EPF (as in Figure 1).
Figure 1
2) Click on Add New (as in Figure 2).
Figure 2
3) Key in Code and Description for new EPF rate.
For employee rate select rate type and key in employee rate.
For employeer rate select rate type and key in employeer rate for Rate ≤ 5,000 and Rate > 5,000.
Complete all then save. (as in Figure 3)
Figure 3
4) Now the new EPF rate is created (as in Figure 4). You may proceed to assign this EPF code to related employees.
Figure 4
Prepared by ChenOng 200413, Azirah 200414, P200423
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