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Employees Provident Fund (Malaysia)
Employees' Provident Fund (EPF; Malay: Kumpulan Wang Simpanan Pekerja, KWSP) is a federal statutory body under the purview of the Ministry of Finance. It manages the compulsory savings plan and retirement planning for private sector workers in Malaysia. Membership of the EPF is mandatory for Malaysian citizens employed in the private sector, and voluntary for non-Malaysian citizens. History Malaysian EPF was established in 1951 pursuant to the Employees Provident Fund Ordinance 1951, under the National Director of Posts. This law became the EPF Act 1951. In 1982, then the EPF Act 1991 in 1991. The EPF Act 1991 requires employees and their employers to contribute towards their retirement savings, and allows workers to withdraw these savings at retirement or for special purposes before then. As of 31 December 2012, EPF has 13.6 million members, of which 6.4 million are active contributing members. At the same date, EPF had 502,863 contributing employers. The EPF is intended to h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statutory Body
A statutory body or statutory authority is a body set up by law (statute) that is authorised to implement certain legislation on behalf of the relevant country or state, sometimes by being empowered or delegated to set rules (for example regulations or statutory instruments) in their field. They are typically found in countries which are governed by a British style of parliamentary democracy such as the United Kingdom and the Commonwealth countries like Australia, Canada, India and New Zealand. They are also found in Israel and elsewhere. Statutory authorities may also be statutory corporations, if created as a body corporate. Australia Definitions Federal statutory authorities are established under the ''PGPA Act 2013''. "A statutory authority is a generic term for an authorisation by Parliament given to a person or group of people to exercise specific powers. A statutory authority can be established as a corporate Commonwealth entity or a non-corporate Commonwealth ent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Emigration
Emigration is the act of leaving a resident country or place of residence with the intent to settle elsewhere (to permanently leave a country). Conversely, immigration describes the movement of people into one country from another (to permanently move to a country). A migrant ''emigrates'' from their old country, and ''immigrates'' to their new country. Thus, both emigration and immigration describe migration, but from different countries' perspectives. Demographers examine push and pull factors for people to be pushed out of one place and attracted to another. There can be a desire to escape negative circumstances such as shortages of land or jobs, or unfair treatment. People can be pulled to the opportunities available elsewhere. Fleeing from oppressive conditions, being a refugee and seeking asylum to get refugee status in a foreign country, may lead to permanent emigration. Forced displacement refers to groups that are forced to abandon their native country, such as by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Security In Malaysia
Social organisms, including human(s), live collectively in interacting populations. This interaction is considered social whether they are aware of it or not, and whether the exchange is voluntary or not. Etymology The word "social" derives from the Latin word ''socii'' ("allies"). It is particularly derived from the Italian ''Socii'' states, historical allies of the Roman Republic (although they rebelled against Rome in the Social War of 91–87 BC). Social theorists In the view of Karl MarxMorrison, Ken. ''Marx, Durkheim, Weber. Formations of modern social thought'', human beings are intrinsically, necessarily and by definition social beings who, beyond being "gregarious creatures", cannot survive and meet their needs other than through social co-operation and association. Their social characteristics are therefore to a large extent an objectively given fact, stamped on them from birth and affirmed by socialization processes; and, according to Marx, in producing and reproducin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Age Pension Systems
Age or AGE may refer to: Time and its effects * Age, the amount of time someone or something has been alive or has existed ** East Asian age reckoning, an Asian system of marking age starting at 1 * Ageing or aging, the process of becoming older ** Senescence, the gradual deterioration of biological function with age ** Human development (biology) * Periodization, the process of categorizing the past into discrete named blocks of time ** Ages of Man, the stages of human existence on the Earth according to Greek mythology and its subsequent Roman interpretation **Prehistoric age Places * AGE, the IATA airport code for Wangerooge Airfield, in Lower Saxony, Germany People * Åge, a given name * Aage, a given name * Agenore Incrocci, an Italian screenwriter Arts, entertainment, and media Fictional entities * ''Ages'', worlds in the ''Myst'' video game series Music * "Age" (song), a song by Jim and Ingrid Croce Periodicals * ''Age'' (journal), a scientific journal on ageing, now ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government-owned Companies Of Malaysia
State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public ownership specifically refers to industries selling goods and services to consumers and differs from public goods and government services financed out of a government's general budget. Public ownership can take place at the national, regional, local, or municipal levels of government; or can refer to non-governmental public ownership vested in autonomous public enterprises. Public ownership is one of the three major forms of property ownership, differentiated from private, collective/cooperative, and common ownership. In market-based economies, state-owned assets are often managed and operated as joint-stock corporations with a government owning all or a controlling stake of the company's shares. This form is often referred to as a state-o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employees Provident Fund (Malaysia)
Employees' Provident Fund (EPF; Malay: Kumpulan Wang Simpanan Pekerja, KWSP) is a federal statutory body under the purview of the Ministry of Finance. It manages the compulsory savings plan and retirement planning for private sector workers in Malaysia. Membership of the EPF is mandatory for Malaysian citizens employed in the private sector, and voluntary for non-Malaysian citizens. History Malaysian EPF was established in 1951 pursuant to the Employees Provident Fund Ordinance 1951, under the National Director of Posts. This law became the EPF Act 1951. In 1982, then the EPF Act 1991 in 1991. The EPF Act 1991 requires employees and their employers to contribute towards their retirement savings, and allows workers to withdraw these savings at retirement or for special purposes before then. As of 31 December 2012, EPF has 13.6 million members, of which 6.4 million are active contributing members. At the same date, EPF had 502,863 contributing employers. The EPF is intended to h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Malaysia
The economy of Malaysia is the third largest in Southeast Asia and the List of countries by GDP (nominal), 34th largest in the world in terms of GDP. The 2018 labour productivity of Malaysia was measured at Int$55,360 per worker, the third highest in ASEAN. According to the Global Competitiveness Report 2021, the Malaysian economy is the 25th most competitive country economy in the world. Malaysians enjoy a relatively affluent lifestyle compared to many of its neighbours in Southeast Asia. This is due to a fast-growing export-oriented economy, a relatively low national income tax, highly affordable local food and transport fuel, as well as a fully subsidized Single-payer healthcare, single-payer public healthcare system. Malaysia has a newly industrialised country, newly industrialised market economy, which is relatively open economy, open and state-oriented. The Malaysian economy is highly robust and diversified with the export value of high-tech products in 2020 standing at US ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Provident Fund (other)
Provident fund is another name for pension fund. Its purpose is to provide employees with lump sum payments at the time of exit from their place of employment. This differs from pension funds, which have elements of both lump sum as well as monthly pension payments. As far as differences between gratuity and provident funds are concerned, although both types involve lump sum payments at the end of employment, the former operates as a defined benefit plan, while the latter is a defined contribution plan. Specific provident funds include: * Employees' Provident Fund Organisation, India's statutory retirement plan * Mandatory Provident Fund, Hong Kong's retirement plan * Central Provident Fund, Singapore's retirement plan * Employees Provident Fund (Malaysia), Malaysia's retirement plan * Employees Provident Fund (Nepal), Nepal's retirement Plan * Central Provident Fund (South Africa), a retirement trust * Instituto del Fondo Nacional de la Vivienda para los Trabajadores, Mexico's pu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Provident Fund
The Central Provident Fund Board (CPFB), commonly known as the CPF Board or simply the Central Provident Fund (CPF), is a compulsory comprehensive savings and pension plan for working Singaporeans and permanent residents primarily to fund their retirement, healthcare, education and housing needs in Singapore. The CPF is an employment-based savings scheme with the help of employers and employees contributing a mandated amount to the fund for their benefits. It is administered by the Central Provident Fund Board, a statutory board operating under the Ministry of Manpower which is responsible for investing contributions. The Global Pension Index, an index that assesses retirement income systems, placed Singapore as the best within in Asia and 7th worldwide in 2020. CPF monies are used by the CPF Board to invest in the exclusive purchase of Government-issued Special Singapore Government Securities (SSGS), with the proceeds from these transactions going into the past reserves. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pudu Prison
The Pudu Prison ( ms, Penjara Pudu, ), also known as Pudu Jail, was a prison in Kuala Lumpur, Malaysia. Built in phases by the British colonial government between 1891 and 1895, it stood on Jalan Shaw (now Jalan Hang Tuah). The construction began with its 394-metre prison wall at a cost of Straits $16,000, and had been adorned with the world's longest mural at one point in its history. The cells were small and dark, each equipped with a window only the size of a shoebox. The prison complex was largely demolished by December 2012 to make way for urban development. At the request of heritage conservationists and the public, the main gate and a portion of the exterior wall have been preserved and now form part of the park surrounding the Bukit Bintang City Centre development and mall, which occupies the site of the former prison. Early years Pudu Prison, also known as Pudu Jail, was built on the site of a former Chinese burial ground. At the time, Pudu was a dense jungle area with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bukit Bintang City Centre
Bukit Bintang City Centre, also known as BBCC for short, is a mixed-use development on the former site of Pudu Prison in Kuala Lumpur, Malaysia. The development is located at the south western end of Bukit Bintang, bordering Pudu along Jalan Hang Tuah and Jalan Pudu. BBCC is a joint development between Eco World Development Group, the Urban Development Authority (UDA) and the Employees Provident Fund Board (EPF). EcoWorld was then given the responsibility to develop the whole land as the development manager of the site. The groundbreaking ceremony for BBCC and Mitsui Shopping Park LaLaport was witnessed by former Prime Minister Najib Tun Razak on 20 June 2017. Construction works on the RM8.7 billion project started later in Q1 2018. History The site of BBCC was previously part of the infamous Pudu Prison (''Penjara Pudu'') which was built in the 1890s on a 10-hectare site. After the prison was uninhabited in 1996, it was opened to the public and became the first prison in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eco World Development Group Berhad
Eco may refer to Ecology or Economics. It may also refer to: Arts and entertainment * ''Eco'' (video game), a 1988 life simulation game * Eco (2018 video game), a 2018 simulation game * ''Emil Chronicle Online'', a 2005 Japanese MMO computer game * English Chamber Orchestra, based in London * Eco, a character in the ''Dragonar Academy'' light novel series * Eco, a fictional substance in the ''Jak and Daxter'' games * Eco, a character on the children's show ''The Shak'' Government and politics * Economic Cooperation Organization, an international organization * Environment and Conservation Organisations of Aotearoa New Zealand * Environmental Commissioner of Ontario * European Communications Office Technology * .eco, a top-level domain for the Internet * eco, the German Internet industry association * ECO (software framework) * Engine cut-off * Engineering change order * Eternally falling object Other uses * Eco (currency), a proposed currency * ECO: A Covenant Order ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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