If you are an employer in Malaysia, it is essential to register your business with three key government agencies: the Employees Provident Fund (EPF), the Social Security Organisation (SOCSO), and the Inland Revenue Board of Malaysia (LHDN). Each registration serves different purposes, from retirement savings to employment injury protection and income tax. This guide will walk you through the steps […]
Effective October 1, 2024, employers in Malaysia must adhere to updated contribution tables for the Social Security Organisation (SOCSO) and Employment Insurance System (EIS). This update raises the wage ceiling for contributions from RM5,000 to RM6,000 per month. Employees earning more than RM5,000 will now have their contributions capped at the new ceiling of RM6,000. This change is aimed at […]
The main function of SOCSO is to provide social security protection to employees and their dependents through the Employment Injury and the Invalidity Scheme.
A significant update from the Social Security Organisation (SOCSO) involves the extension of the Invalidity Scheme coverage to foreign workers in Malaysia. Effective from 1 July 2024, all foreign workers, including expatriates, will be required to contribute the same as local workers under Category 1, which encompasses both the Employee and Employer contributions. This change is mandated by the Employees’ […]
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