Kkm Full Form And Meaning
kkm full form
KKM stands for Kumpulan Wang Simpanan Pekerja, which is the Employees Provident Fund in Malaysia. It is a compulsory savings and retirement plan for Malaysian employees.
Understanding KKM
KKM is managed by the Employees Provident Fund (EPF) Board of Malaysia. It ensures that employees have financial security upon retirement by deducting a portion of their salary for savings.
Key aspects of KKM:
- Mandatory contributions from employees and employers
- Long-term savings growth
- Retirement, housing, and healthcare withdrawals
Benefits of KKM
KKM provides numerous benefits to contributors, including financial stability during retirement and access to funds for specific needs before retirement.
Advantages of participating in KKM:
- Guaranteed savings for retirement
- Tax benefits on contributions
- Flexible withdrawal options for emergencies
KKM is a cornerstone of financial planning for Malaysian workers, offering a reliable way to save for the future.