How is the calculation of Employee and Employer EPF if that is a deduction in Payroll? As i try to calculate i can’t get the same amount as hr.my for 11% Employee and 13% Employer, for example below.
1849.78 * 11% = 203.4758 but system give 205
1849.78* 13% = 240.4714 but system give 242,
we round up the behind digit also can’t matching, please advice.
After double checking with KWSP guideline, I found that HR.my calculation for EPF was correct, and yours was wrong.
According to KWSP: Employers are not allowed to calculate the employer’s and employee’s share based on exact percentage EXCEPT for salaries that exceed RM20,000.00. The total contribution which includes cents shall be rounded to the next ringgit.
You can take a look at the sample calculation too.