Article 9: New Increment Contribution for SOCSO and EIS Effective 1st October 2024
The Social Security Organisation (PERKESO) has announced an important update: Effective 1 October 2024, the wage ceiling for contributions to SOCSO and EIS has been raised from RM5,000 to RM6,000 per month, meaning that employees earning more than RM5,000 will have contributions calculated based on this higher limit. For those with monthly salaries above RM6,000, the contribution amount is based on the wage ceiling of RM6,000. The increase in the PERKESO wage ceiling limit ensures that employees earning higher salaries receive more comprehensive coverage under the Employment Injury Scheme and Invalidity Scheme and emploment insurance system.
Employers across Malaysia are advised to:
Kindly visit the link below to view the latest rate of contribution SOCSO and EIS
https://www.perkeso.gov.my/en/our-services/employer-employee/kadar-caruman.html
For more information about payroll outsourcing, please visit to our website https://www.alena.com.my/
or contact us at +6018-375 5170
Employers across Malaysia are advised to:
- Update payroll systems to reflect the new wage ceiling limit of RM6,000.
- Ensure that contributions for October 2024 and beyond comply with the revised guidelines under Act 4 and Act 800.
- Stay informed on PERKESO updates to avoid compliance issues or penalties.
Kindly visit the link below to view the latest rate of contribution SOCSO and EIS
https://www.perkeso.gov.my/en/our-services/employer-employee/kadar-caruman.html
For more information about payroll outsourcing, please visit to our website https://www.alena.com.my/
or contact us at +6018-375 5170
25 Oct 2024
