When we think of a payslip, what often comes to mind is just a piece of paper that shows the breakdown of our salary. However, a payslip holds much more significance than merely being paper. It carries great importance for both employers and employees. This article will explore the importance of the payslip, detailing how to prepare one effectively, what […]
Annual leave is an important employment benefit that allows employees to take time off from work for leisure, rest, and personal reasons while still receiving their regular salary. In Malaysia, annual leave entitlements are governed by labour laws and employment contracts. In this guide, we will discuss the regulations regarding annual leave in Malaysia and how to prorate annual leave […]
Starting from January 1st, 2024, it will be the responsibility of all employers to report new employees within 30 days from their date of employment through the e-CP22 system on MyTax. It’s worth noting that for the submission of CP22 through MyTax, only the company director (with Employer Role in MyTax) has the authority to make the submission. Alternatively, the […]
In the ever-changing business landscape of Malaysia, the importance of precise and efficient payroll is of utmost importance for both small startups and large corporations. Managing payroll is not just about paying employees; it involves ensuring compliance with local labour laws, calculating taxes accurately, and maintaining comprehensive records. This is where a reliable payroll system can truly make a significant […]
Introduction The Malaysia Inland Revenue Board (LHDN) mandates all newly hired employees to declare their previous employment income from the current year to their new employer. This process is facilitated through the TP3 Form, ensuring precise calculation of PCB/MTD amounts in the payroll system. This guide provides comprehensive information on how to utilize the TP3 Form for the year 2023. […]
Introduction: The realm of individual income tax can often seem labyrinthine and overwhelming, especially for those grappling with the regulations for the first time. In Malaysia, every income earner, be it a resident or a non-resident, must understand the intricacies of the income tax system to ensure accurate compliance and optimal financial planning. This article aims to serve as a […]
Form CP22 is a prescribed notification form in Malaysia, used by employers to report new employees who are or are likely to be chargeable to tax to the Inland Revenue Board of Malaysia (IRBM) or LHDN. Employers are mandated to submit this form within 30 days from the commencement of employment, detailing particulars of the employer, the new employee, and […]
Compensation and benefits play a pivotal role in attracting, retaining, and motivating employees in Malaysia. A well-structured compensation package and a robust benefits program not only ensure legal compliance but also enhance employee satisfaction and overall company performance. In this guide, we will delve into the intricacies of compensation and benefits in Malaysia, providing valuable insights, best practices, and compliance […]
Overtime pay is an essential aspect of fair compensation for employees who put in extra effort beyond their regular work hours. In Malaysia, understanding how to calculate overtime accurately is crucial to ensure both employers and employees are in compliance with employment regulations. This guide aims to provide a step-by-step breakdown of how to calculate overtime in Malaysia, taking into […]
A. GENERAL 1. What is the main objective of the amendment to the Employment Act 1955? The main objective of the amendment to the Employment Act 1955 is to : enhance and improve the protection and welfare of workers in this country; ensure that the labor law provisions in this country are in line with international standards set by the […]
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