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|Legal Subjects > Employment Law > Employees Provident Fund|
AM I ELIGIBLE TO WITHDRAW UNDER THE COMPUTER WITHDRAWAL SCHEME ?
Under the Computer Withdrawal Scheme, you are allowed to withdraw up to RM3,500 or subject to the balance in your Account II, whichever is lower.
For joint application, you can also withdraw up to RM3,500 only or subject to the balance in the Account II, whichever is lower. Application must be submitted together for joint application.
You are only permitted to withdraw once under this scheme. You are not eligible to apply again where you have withdrawn previously under this scheme.
To apply for withdrawal, you are to submit the KWSP 9K (AHL) Form from appointed dealers, Pos Malaysia Berhad or Bank Simpanan Nasional, together with the relevant documents.
Once your application is approved, the dealer will deliver the computer to you.
HOW MUCH CAN I WITHDRAW UNDER THE MEMBERS' INVESTMENT SCHEME ?
The Members' Investment Scheme allows members with more than RM55,000 in their Account I to invest up to 20% of the excess in approved unit trusts funds.
The minimum amount for investment is RM1,000.
The amount you can withdraw can be calculated using the formula below :
(Balance in Account I - Amount above RM55,000 in Account I) X 20%
You can withdraw for a second time, three months after the first withdrawal.
However, in any withdrawal, your must have a minimum savings of RM55,000 in your Account I.
You can only invest your savings in unit trusts funds approved by the Ministry of Finance.
You should note that EPF does not take any responsibility for investment made by you.
To withdraw, you have to obtain the Statement of Account and submit the KWSP 9F (AHL) Form for investment purposes.
There are currently 33 approved Fund Managers :