Tax Relief on contribution to Employees Provident Fund
March 22, 2023
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What is tax relief?
Tax relief refers to any government program or policy designed to help individuals and businesses reduce their tax burdens or resolve their tax-related debts.
What is tax relief on voluntarily contribution of Employee Provident Fund (EPF)?
A member who contributes compulsorily and not compulsorily will be eligible for tax relief up to RM4,000
Civil servant who voluntary contributions or voluntary excess or both will be able to enjoy tax relief of up to RM7,000. (according to BUDGET 2023)
III. Total income tax relief can be claimed (applicable to civil servants under pension scheme and effective starting for YA 2023)
Mandatory contribution to approved schemes or voluntary contribution to EPF (not including private retirement scheme) or contribution under any written law
TAX RELIEF – UP TO RM 4000
Life insurance premium or takaful contribution or any additional voluntary contribution to EPF or both
