Out of 10 startup companies, 8 made these common mistakes.
Before they register for their employer statutory account, they have hired their employees and started working for them without contributing to the monthly statutory.
Why is that?
Simply because during that time, the company need an urgent employee to commence work immediately. Secondly, the company thought it is okay to register later. Worst of all, some don’t even know that they need to register an employer account before they contribute the employee’s monthly deduction.
Only when they want to contribute, the company get stuck with no employer account.
The good news is yes you can still get the registration done. ✅
But the bad news is you have to be prepared to go through hours of processes in the statutory office and the penalty of being late. 🔥
Today let me share with you 9 steps on what you need to do for EPF registration if you are in these situations:
- Prepare all your employee’s detail – their name, their salary, their IC and the amount of deduction for the particular month. Bring along your chequebook.
- Based on your office address, walk into the EPF branch within your office address etc if Kuala Lumpur, go to EPF Kuala Lumpur.
- Ask the counter officer – the Enforcement Department you need to approach the enforcement department first. It will be either level 1 or level 2 in the EPF office.
- Show the enforcement department’s officer the employee’s salary and deduction and explain to them the reason for late registration. The officer will calculate the penalty amount. With the cheque, the officer will approve the opening of the account.
- Proceed to the ground floor for account opening. Filled up all the required kwsp form and bring along your company SSM documentation, IC photocopy of the director and company stamp.
- Once done, head to the computer kiosk to activate the I-Akaun online portal.
- From the portal, input all the contributions of your employee amount based on the starting month separately and print out Borang A once completed.
- Proceed to the payment counter with your cheque.
- Once you have made the payment, the acknowledgement receipt will need to show to the enforcement officer.
The above can literally take half of your day if smooth. Most of the time you will need to return as many will miss out on some documentation.
It is extremely hassle if you are in these situations, no joke.
Words of advice, always put priority on the statutory board first before any hiring or planning to hire.
Hope the above helps and I wish you will not need to go through the rough and hard processes, it is not fun. Alternatively, you have me assist you or ask me if you need to.
#epf #commonmistakesbystartup #payrolloutsourcingservices #epfpenalty #entrepreneur
