• Property

When we do not have an EPF account, chances are we will spend all the money we earn which could have been part of the EPF savings for our perusal post-retirement. If we do not have an EPF account, then we also lose the employers’ portion of the EPF contribution. This is a big amount because it’s higher than employee’s portion. Thus, it’s double whammy for any worker who is working but is somehow not an EPF member.