I believe that all of you [working people] are familiar with EPF, right? Every month, a small portion of our salary will be deducted and deposited into the EPF account, and the money deposited in it can also earn monthly interest! But, do you think that the interest of EPF is just [the amount deposited multiplied by 6.15% (interest dividend)]? Then you are wrong!
In fact the calculation of EPF interest is not that simple
Suppose you have RM 50,000 in your account, and the current dividend is 6.19%, then RM 50,000 x 6.19% = the interest you get? In fact, this calculation is wrong! Because most people’s EPF accounts are deposited monthly, not in one lump sum.
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Therefore, at, the money in the EPF account will enjoy Armenia Phone Number List a full year of interest, and the money deposited each month will receive corresponding interest based on the length of time. For example: money deposited in January (can get 11 months of interest), money deposited in February (can get 10 months of interest), money deposited in March (can get 9 months of interest) and so on.
The beginning of the year
How is the interest for 11 months in January ASB Directory calculated? The amount of money deposited each month will be based on the number of days. For example, there are 31 days in January, 365 days minus 31 days plus 1 (the number of days from the last day of January to the next year), so the interest for January will be proportional to the interest for 335 days.
