Malaysia plans to make EPF mandatory for all foreign workers
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Malaysian government plans to make the Employees Provident Fund (EPF) for all foreign workers employed in the Southeast Asian country.
The initiative proposal will be implemented in phases, said Malaysian Prime Minister Datuk Seri Anwar Ibrahim while tabling the national budget in the Dewan Rakyat, the parliament of the country, on Friday.
The prime minister announced, “The EPF i-Saraan matching incentive has been raised from 15 per cent to 20 per cent, subject to an annual limit of RM500 or a lifetime maximum of RM5,000.”
He said that the programme would continue with matching incentives through government contributions and active contributions from participants.
The Malaysian prime minister also said, “The country is committed to providing fair treatment to all workers regardless of nationality, in accordance with international standards.”
During a visit to Bangladesh on October 4, Malaysian Prime Minister Anwar Ibrahim announced that the workers would not be treated as slaves