i-Sinar: EPF announces two categories of members who are eligible to apply
Astro Awani
2 December 2020
KUALA LUMPUR: The Employees Provident Fund (EPF) has announced two categories involving eight million members who are eligible to apply for the i-Sinar scheme.
The EPF in a statement on Wednesday said, Category 1 involves those who work in the formal sector, those who are self-employed, those who work in the gig economic sector, have not contributed for a long time, lost their jobs, housewives or those who are given unpaid leave notice.
Applicants in that category can start applying online on December 21, with payment to eligible members will be made in mid-January 2021.
“The criteria for Category 1 is for members who have no contribution with the EPF for at least 2 consecutive months during the application, or;
“Members who are still working but have experienced a basic salary reduction of 30 per cent or more after March 2020.
"For this category, no supporting documents are required and approval is automatically based on the EPF's internal data," EPF said in the statement, here on Wednesday.
The EPF said for Category 2, applicants can start to apply from 11 January 2021.
“This category is for members who are still working but have experienced a total income reduction of 30 per cent or more.
“It includes the reduction of salaries and allowances or the deduction of overtime claims after March 2020, for which the reduction can only be ascertained through the documents provided.
“To facilitate the verification process, the EPF needs supporting documents from members, namely salary slips before and after income reduction.
“Notice of termination or deduction of allowance or overtime claims.
"If the document cannot be submitted, any other supporting documents such as bank statements or confirmation letters from employers will be considered," added EPF.
According to EPF, the status of the application will be informed to the members within two to three weeks after the application is made.
Meanwhile, payment will be made before the end of the following month, after approval is given, said EPF.
The total i-Sinar eligibility is subject to the member's Account 1 savings balance based on the latest details as follows:
a. Members with a balance of RM100,000 and below in Account 1 can make withdrawals up to a maximum of RM10,000.
Payment will be made in stages within a maximum of six months with the first payment up to a maximum amount of RM5,000.
b. Members with a balance of more than RM100,000 in Account 1 can make a maximum withdrawal of 10% or RM60,000 (whichever is lower) from Account 1.
Payment will be made in stages within a maximum period of six (6) months with the first payment up to RM10,000.
Source: Astro Awani
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