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NEWS 15 July 09 Malaysia | EON Bank Group entered a partnership with the Inland Revenue Board (LHDNM) and the Employees Provident Fund (EPF) today to leverage the power of the internet to make online payroll services more simple and convenient for businesses via its Internet Banking site at www.eonbank.com.my. The new service, named Online Payroll, has been specially designed for payroll needs so commercial and corporate customers are able to credit employee salary without the need for submissions through conventional brick-and-mortar bank branches. With the simple click of a mouse button, they are saved from the hassle of using traditional means of managing their payroll, such as submitting manual requests or providing diskettes over the counter at bank branches. “With Online Payroll, companies no longer need to send files saved on offline storage media or letters of consent for payroll purposes. Through EON Bank Group’s Business Internet Banking, the salary crediting file can be approved by management from anywhere in the world where there’s access to www.eonbank.com.my,” explained Michael Lor, Head of Group Consumer Banking, EON Bank Group. Lor continued, “With Online Payroll, all that needs to be prepared is a salary crediting file containing details of the required transactions. The file is uploaded via EON Bank Business Internet Banking for the respective company’s internal management online approval. Once approved, the file is sent online to EON Bank for processing. It’s that simple! Just prepare, upload, and approve.” This service’s simplicity and convenience will be appreciated especially by SME customers, which are one of the bank’s important target segments. Being internet-based, this also means that customers can truly enjoy banking “anytime, anywhere” since they are able to manage their accounts regardless of banking hours, including on weekends and public holidays. More than 8,000 companies are already enjoying the convenience of EON Bank’s Business Internet Banking now. Online Payroll offers services to cater for various payroll needs, including salary crediting for employees with EON Bank accounts or MEPS member bank accounts (through Interbank Transfer). The
partnership signed today will also allow businesses and companies
to conveniently make statutory payments services for the Inland
Revenue Board (LHDN) and Employees Provident Fund (EPF) through
EON Bank Group’s internet banking service. Commenting on the partnership, Dato’ Ibrahim Taib, EPF’s Deputy Chief Executive Officer (Operations) said at the signing ceremony, “Services such as the Online Payroll Service provided by EON Bank Group works in line with our goals as it benefits both employers and their employees - employers’ now have more control over their payments and employees are ensured that their monthly contributions are credited into their EPF accounts.” Also speaking at the event, Chief Executive Officer of the Inland Revenue Board (LHDNM) Dato’ Hasmah Abdullah, elaborated that “The services offered by EON Bank Group are over the counter income tax payment, online income tax payment and online monthly Schedular Tax Deduction (STD). Indeed, it will give added convenience to EON Bank Group’s customers. Personally, I am very sure taxpayers will appreciate this type of facility for its convenience and practicality.” Presently, Online Payroll subscribers can also enjoy waivers on the one-time registration and monthly subscription fees as well as special rates on EON Bank and Interbank account transfers. The current promotion ends 31 December 2009. The
Inland Revenue Board of Malaysia (LHDNM) is the main revenue collecting
agency under the Ministry of Finance. The Employees Provident
Fund (EPF) is Malaysia’s premier pension fund. The EON Bank
Group branch network consists of 157 EON Bank branches and service
centres, as well as 2 MIMB Investment Bank branches, with a total
of nearly 6,000 employees. For
more details on EON Bank Business Internet Banking’s Online
Payroll, visit www.eonbank.com.my or call their 24-hour Contact
Centre on 03-2616 1133.
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