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EPF, Income Tax and Bankruptcy

331 Views  ⚫  Asked 10 Months Ago
asked on Mar 30, 2017 at 15:17
by   ronykk
What is the legal position/protection of EFP from bankruptcy i.e. can creditors sue the bankrupt for EPF withdrawals at age 55?  Say the person withdraws at age 55, how is he going to obtain the proceeds if he is not allowed to have a a bank A/C?

Say the bankrupt person also owes tax to Income Tax Dept - is the EPF protected from the Income Tax Dept. 

Would appreciate replies quoting relevant sections of the current laws.
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1 Answers

answered on Apr 3, 2017 at 03:55
by   jeff005
edited Apr 10, 2017 at 05:42
 
Why so many say this, say that?
Confused people.

EPF is protected by laws from any legal action by Creditors.

Tax department is government body. You still have to pay even as a bankrupt once you have monies in your hand.

A bankrupt who has reported in to Jabatan Insolvensi Malaysia (JIM) and is under the 5 years case management can apply for a savings account.

All the relevant legal acts you want is under the Bankruptcy Act. Google and download and read it yourself.
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