SME Featured Southeast Asia

MY’s Employees Provident Fund rolls out e-payroll service for SMEs

Kuala Lumpur, Malaysia – The Malaysian arm of retirement fund Employees Provident Fund (EPF) has announced the launch of e-payroll, an enhancement of the i-Akaun (Employer) portal, to help facilitate employer’s statutory obligations, including EPF contribution, digitally.

The service launch provides a secure and seamless experience for employers, emphasizing on automated calculations of statutory deductions and contributions to regulatory bodies. This initiative is in line with EPF’s objectives of helping employers, particularly small-medium enterprises (SMEs), fulfill their obligations to employees while making it easier and seamless for them to operate their businesses.

In addition, the service also provides employers with the capability to digitally store the records of their employees including that of salary, helping to enhance process efficiency by reducing the time needed to manage activities related to statutory obligations.

For Tan Sri Ahmad Badri Mohd Zahir, chairman at EPF, they were well aware of the increasingly important role of digitalization in our lives, with the COVID-19 pandemic pushing many clients to adopt digital technology at a faster speed with greater accuracy.

“At the EPF, we have approached this with our members’ interest in mind, and have taken the initiative to continuously improve our offerings that would benefit both employers and employees. The e-payroll service is designed to assist SME users of i-Akaun (Employer) who are not using any payroll solution or do not have the financial means to utilize a payroll solution,” he stated.

Said solution was developed in collaboration with and endorsed by the Inland Revenue Board Malaysia (IRBM), Social Security Organisation (SOCSO), and Human Resource Development Corporation (HRD Corp). This close collaboration will ensure the accuracy and up-to-dateness of statutory requirements in the e-payroll.

The e-payroll was well-received by 600 SMEs that had enrolled in the pilot test and soft launch recently.

“The EPF continues to evolve in order to stay relevant in the face of rapid technological advances and dynamic changes in the job landscape. Digitalization will ensure that we are able to offer the highest level of service while meeting the expectations of our members and employers,” Tan Sri Ahmad Badri added.