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No, I don't agree

I seldom respond to whatever happened in this country, regardless of how significant it may be, be it RPK released from ISA (Congrats, RPK!) or DPM is going to be the next PM... whatever... But definitely NOT this time. Although this is a minor issue, it could be major to some.

From NST:

Jan 1 start for cut in EPF contributions

KUALA LUMPUR: The reduction of the employees' contribution to the Employees Provident Fund (EPF) will be made automatically effective from the January salaries to ease and facilitate better implementation of the measure.

This will be implemented until the December 2010 salary, the EPF said in a statement issued here yesterday. It said, however, if members wished to maintain the contribution rate at 11 per cent, they may do so by filling up the Form KWSP 17A (AHL).

"Once completed, the forms can be submitted to the members' respective employers for submission to the EPF," the statement said.

The EPF said in the meantime, it would be issuing a new monthly contributions schedule accordingly. It said members and employers could obtain the new schedule and AHL from all EPF branches or download the forms from its website, myEPF, at www.kwsp.gov.my from Dec 1 onwards.

On Tuesday, Deputy Prime Minister Datuk Seri Najib Tun Razak, who is also Finance Minister, announced that the employees' monthly statutory contribution rate would be reduced by three per cent from 11 per cent to increase disposable income for the public.

Automatically effective? Nonsense.

If members wished to maintain the contribution rate at 11 per cent, they may do so by filling up the Form KWSP 17A (AHL). This is just giving us trouble. That means we've to take leave just to queue up at KWSP to fill in the form. :S

"Once completed, the forms can be submitted to the members' respective employers for submission to the EPF," the statement said. Well, I hope the company where I'm working now will tolerate this.

...the employees' monthly statutory contribution rate would be reduced by three per cent from 11 per cent... NO! I want 11%. If you have more cash-in-hand, you'll spend more. Definitely. I'm not going to be that stupid.

:(

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