Maybank aims to
get 75,000 pay EPF
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is targeting to
have 75,000 employers pay their workers' Employees
Provident Fund (EPF) contributions
through Maybank's internet channels
and Maybank2u.com in the next
president, Datuk Amirsham A Aziz said
the new online payment service provided
greater convenience and benefits to
both enterprises and self-employed customers.
Internet banking channels enable our
customers to be able to use the service conveniently,
24 hours per day, seven days a
week, anytime and anywhere.
enterprise customers, the bulk payment
facility of Maybank2e.net is well suited
for imitating payroll as well as making EPF
contributions," he said at the signing agreement
between Maybank and EPF for the
online payment of EPF contributions via
Maybank's internet banking channels, Maybank2e.
net and Maybank2u. com, here yesterday.
signed on behalf of Maybank while
EPF was represented by its chief executive
officer Datuk Azlan Zainol.
payment of EPF contributions via
two Internet banking channels, Amirsham
said, would be immediate, time saving
and cost efficient as it would eliminate the
problem of accounting with the manual pay-in
such as queuing, handling of cash or cheque
issuance or other bank and processing
costs. "Maybank has also extended
the convenience of making EPF contributions
for our retail customers via Maybank2u.com,"
said for those who do not have an EPF account
would only need to obtain one from the
EPF following which they could immediately
use the EPF payment facility to
make their EPF contributions.
also said that Maybank has opted
to provide separate internet banking channels
for enterprise and retail customers to
cater to the specific needs of the respective customers.
Azlan hoped that the agreement
would help reduce the current percentage
of errant employers which presently
stood at 4.39 percent or about 14,800
of the total number of 338,900 registered employers. He said the
service would be provided free of
also pointed out that to overcome the problem
of either late or non-payment of contributions,
several stringent actions were being
taken by EPF to ensure that every sen the
members contribute and the contributions
of their employers would go into
would not hesitate to take appropriate
actions against errant employers such
as taking them to court and detaining their
passports, he added. "The directors of the
companies involved would also be brought
to court. I believe our recent actions speak
for themselves," he said.
said currently, every month about 79,500
payment transactions by employers are
made at the EPF service counters, about 194,400
such transactions are through appointed
banks whilst about 67,900 are made through the mail and 65 through internet.
Azlan said that the collaboration with
Maybank brings the total to three local banks
currently offering online EPF payment
other two banks are Bumiputera Commerce
Bhd and Public Bank.
"EPF will also seek collaboration with other
banks in future to offer this mode of payment," he said. - Bernama