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Salary >RM3k can be exempted from SOCSO
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PACINO
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 Feb 11 2015, 12:19 PM
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Do not pay SOCSO if your first job is above RM 3k. I did a gross calculations , for a colleague of mine who is in his 40's now - he had started paying his SOCSO since he started working , and till date , he has paid out more than 1 unit of Iphone 6plus , and is not covered due to the nature of his job scope ( office nia , what accident la )
so if can choose not to pay - why on earth you want to pay ? Unless you so good hearted and love to help build our SOCSO funds.
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PACINO
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Feb 11 2015, 01:39 PM
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QUOTE(katakrabun @ Feb 11 2015, 12:34 PM) I would advise that you subscribe to SOCSO especially if you are married and have school-going children because you will not know when accidents can happen to you. Supposing you meet with a road accident and you die SOCSO will pay monthly allowances to your spouse and children until the day they are legally married. If you don't have SOCSO then it will be difficult for your wife and children to survive unless you have other insurance coverage for accidents. SOCSO subscription just cost you a few RM per month compared to outside insurance coverage. I know of a friend who died 13 years ago due to a road accident but the family enjoys SOCSO allowances until today even though some of his children are already working, but because they are still single. yeah , for the death part it is useful , especially if you're high paying individual ( E.g. Rm 20k per month basic salary , your family gets 50% of the monthly salary - RM 10k per month for life ) Wonderful if you die at the right timing before 60 years old. |
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PACINO
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Feb 15 2016, 01:42 PM
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QUOTE(Hagendaz @ Feb 15 2016, 12:39 PM) This is not true. Monthly allowance that employee received is limited to maximum of 65% of average monthly salary or RM1,917.50, whichever lower. You are probably right. I am no expert in it. This sucks if it's the case. Nevertheless , might serve the lower bracket pay well |
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