KUALA LUMPUR: The Employees Provident Fund (EPF) has launched e-Payroll, an enhancement of the i-Akaun (employer) portal, as it leverages on digital technology to help facilitate employers’ statutory obligations, including EPF contribution.
In a statement on Friday, the retirement fund said e-Payroll provides a secure and seamless experience for employers, emphasising on automated calculations of statutory deductions and contributions to regulatory bodies.
EPF chairman Tan Sri Ahmad Badri Mohd Zahir said: “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 utilise a payroll solution.”
The EPF said 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.
The e-Payroll also enables employers to digitally store the records of their employees including that of salary and also reduce the time needed to manage activities related to statutory obligations.
Elaborating on the initiative for the e-Payroll, Ahmad Badri said the EPF is well aware of the increasingly important role of digitalisation in our lives, with the Covid-19 pandemic pushing many 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, ” he said.
The e-Payroll system 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), the EPF said, adding 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 which enrolled in the pilot test and soft launch recently.
Source: The Star
