Socso Contribution Table 2018

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Socso contribution table 2018. We have invested more than rm30 000 in our company secretarial software for handling all our clients secretarial matters and clients needs. The employer needs to pay both the employees and the employer s share to the epf. Employers may deduct the employee s share from their salary. The company will pay 1 75 while the staff workers will contribute 0 5 of their wages for the employment injury insurance scheme and the invalidity pension scheme.

The amount paid is calculated at 0 5 of the employee s monthly earnings according to 24 wage classes as in the contribution table rates below along with the 1 75 contribution of the monthly payroll. Examples of allowable deduction are. A company is required to contribute socso for its staff workers according to the socso contribution table rates as determined by the act. Sip eis table.

The contribution rate is based on section 18 and schedule 2 of the employment insurance system act 2017. Salary for january 2018 therefore the contribution month is february 2018 and it has to be paid either before or on 15 february 2018. Both the rates of contribution are based on the total monthly wages paid to the. Contribution table rates the contributions into the scheme depend on an employee s monthly wage and it is contributed by both the employer and the employee.

I c your complaint send to 15888. As the clock ticks for personal income tax deadline in malaysia 2018 like gainfully employed malaysians you may have started visiting the lhdn malaysia website to do your e filing as both a proactive and precautionary measure. Epf contributions tax relief up to rm4 000 this is already taken into consideration by the salary calculator life insurance premiums and takaful relief up to rm3 000. Eis contribution rate the contribution rate for employment insurance system eis is 0 2 for the employer and 0 2 for employee based on the employee s monthly salary.

Epf helps you achieve a better future by safeguarding your retirement savings and delivering excellent services. The proposed eis initiative will be managed by socso and the contribution from both employers and employees towards the employee s insurance account is compulsory. This guide is for assessment year 2017 please visit our updated income tax guide for assessment year 2019. Under the current proposal both employer and employee are compulsory to contribute 0 25 of the employee s monthly wages to the common eis pool similar to the socso and epf contributions.

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