Small-and medium enterprises (SMEs) affected by the global pandemic can opt to defer and restructure employer’s share of the Employees Provident Fund (EPF) contribution for three months. The aid by EPF known as Employer COVID-19 Assistance Programme (e-CAP) allows employers to defer employer share contribution payment to help them manage the company’s monthly cash flow.
Employers can apply for deferment and restructuring of the EPF contribution payment for April, May and June 2020
e-CAP can only be applied by small and medium-sized enterprises that are registered with the EPF. Meaning, it’s applicable for companies with a workforce of 200 or less. On top of that, the company must has made all monthly EPF contribution payments up to February 2020 -January salary.
Employers must ensure that the employee’s share of the monthly contribution during the 3-month deferment period are being paid up. For SMEs applying to defer their April contributions, their restructured payments will start from July up to a maximum of three months ending September 2020.
How to apply e-CAP?
The e-CAP can be applied via i-Akaun (Employer) from Thursday (23 April 2020) onward. Employers can apply via the EPF’s portal under the i-Akaun (Employer) section. Employers then will have to submit on a monthly basis to ensure that the employee’s share for the previous month has been paid and the employer’s share has been restructured accordingly. For the installment payments, it can be made via the i-Akaun (online), EPF counters or at EPF-appointed bank counters. For more info regarding e-CAP, you can visit here.
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