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 EPF & SOCSO, some questions...

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crimsongate
post Oct 19 2008, 02:44 AM

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QUOTE(jorineb @ Aug 6 2008, 01:51 PM)
How to calculate SOCSO?I know EPF is 11% from our salary.How bout SOCSo?

Plz help...im a freshie
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normally SOSCO is 5% of your salary
red_scorpion
post Oct 19 2008, 11:43 AM

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QUOTE(crimsongate @ Oct 19 2008, 02:44 AM)
normally SOSCO is 5% of your salary
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no la, where got 5%, from what i observed, socso is just around 2% of ur job

This post has been edited by red_scorpion: Oct 19 2008, 11:44 AM
eSeLLe
post Dec 16 2008, 09:01 PM

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This post has been edited by eSeLLe: Sep 30 2010, 02:46 AM
J'Daniel
post Dec 16 2008, 11:35 PM

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Socso contribution is based on the socso table ...

employer does pay for socso too
kaiserwulf
post Dec 16 2008, 11:49 PM

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EPF deducts on total income from the company or only from your basic pay?
b00n
post Dec 17 2008, 04:48 PM

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QUOTE(kaiserwulf @ Dec 16 2008, 11:49 PM)
EPF deducts on total income from the company or only from your basic pay?
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Your contribution would be 11% of your basic pay.
I.e. say basic pay is RM1,000 so your contribution would be RM110 which leave you with a nett salary of RM890.
Employer contribution would be at 12% so they would give EPF under your account additional RM120 which would have no effect on your basic pay.
Thus you get a total of RM230 into your EPF and the nett salary of RM1,000-RM110 = RM890.

J'Daniel
post Dec 17 2008, 05:41 PM

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some company does deduct on your allowance or OT as well
b00n
post Dec 17 2008, 05:49 PM

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QUOTE(J'Daniel @ Dec 17 2008, 05:41 PM)
some company does deduct on your allowance or OT as well
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True also.
If it's under one payslip than usually company would deduct.
But some of the companies pays commisions and allowances during the middle of the month which is another payslip from the normal basic payslip, thus they might not pay deduct EPF contribution as by doing so, they also need to provide the 12% company contribution.
That's just my observation.

kaiserwulf
post Dec 17 2008, 06:00 PM

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Thanks. Cos I was afraid of having low basic pay and high allowances then I cannot take advantage of the EPF automatically (without having to write a letter in). 10Q.
DarReNz
post Dec 18 2008, 02:09 AM

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looks like we keep paying socso every month as well as the employer, wonder if we can stop contributing to it lol
eeki
post Dec 30 2008, 04:09 PM

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QUOTE(red_scorpion @ Oct 19 2008, 11:43 AM)
no la, where got 5%, from what i observed, socso is just around 2% of ur job
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are u sure socso is 2%? if yes how u calculate it?
example salary 3k. 2% from 3k already RM60. it's too high already la
J'Daniel
post Dec 30 2008, 04:40 PM

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socso is based on socso table smile.gif
andy_lhc
post Dec 30 2008, 09:07 PM

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the highest socso deduction i believe is only RM14.75....nod.gif
ruztynail
post Apr 18 2009, 10:11 PM

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jus wondering.. i am paying socso. now wit the e-filing thingy for personal tax due very soon!!
.. do i include the SOCSO amount into the life insurance/kwsp column for tax deductions? afaik its not really an life insurance is it?

thanks!!!
c9
post Apr 19 2009, 06:39 AM

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QUOTE(DarReNz @ Dec 18 2008, 02:09 AM)
looks like we keep paying socso every month as well as the employer, wonder if we can stop contributing to it lol
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You can opt NOT to contribute to SOCSO when your salary is more than RM3K.

I do not contribute to SOCSO, only EPF.

You can refer to this table as well, http://www.perkeso.gov.my/Jadual_Caruman4.pdf
maomao13
post Apr 21 2009, 09:41 AM

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QUOTE(c9 @ Apr 19 2009, 06:39 AM)
You can opt NOT to contribute to SOCSO when your salary is more than RM3K.

I do not contribute to SOCSO, only EPF.

You can refer to this table as well,  http://www.perkeso.gov.my/Jadual_Caruman4.pdf
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Hihi. I am new in HR Dept.
I have questions in paying EPF for new staff.
How do i register new staff in EPF?WHat is the procedure?
Previously i worked under a Telco company as sales exec but til now,half years already but i nvr receive any statement before.
What shall i do?

clsia1001
post Jul 18 2009, 10:15 AM

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QUOTE(c9 @ Apr 19 2009, 06:39 AM)
You can opt NOT to contribute to SOCSO when your salary is more than RM3K.

I do not contribute to SOCSO, only EPF.

You can refer to this table as well,  http://www.perkeso.gov.my/Jadual_Caruman4.pdf
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only those more than 3k can opt NOT to contribute to SOSCO? I feel it's useless to contribute to SOSCO, put the money in my EPF better...laugh.gif

ronzai89
post Jul 18 2009, 10:59 AM

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Both are compulsory...
EPF, if tat is your 1st time working....u can choose whether u want deduct 11% or 8% in two yrs time...then, u can choose again
adrian_huen
post Jul 18 2009, 04:51 PM

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QUOTE(clsia1001 @ Jul 18 2009, 10:15 AM)
only those more than 3k can opt NOT to contribute to SOSCO? I feel it's useless to contribute to SOSCO, put the money in my EPF better...laugh.gif
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no....EPF is saving for old age.....SOSCO is insurance......if anything happen during working hours...SOSCO will pay u some money....
babyfiona
post Jul 18 2009, 10:37 PM

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QUOTE(maomao13 @ Apr 21 2009, 09:41 AM)
Hihi. I am new in HR Dept.
I have questions in paying EPF for new staff.
How do i register new staff in EPF?WHat is the procedure?
Previously i worked under a Telco company as sales exec but til now,half years already but i nvr receive any statement before.
What shall i do?
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To register new staff (which never register with KWSP before) get a form inside their website to register them with photocopy of IC. (either u help them to register or they go to any kwsp branch to register themself). KWSP will provide the new staff with the membership number. From there you can use the number to pay for them. The new staff will be using the number for life until he/she withdraw all her money out from KWSP. The number will be use even when she/he change to new company.where ever he/she go, the number will follow.

For those existing KWSP members, just get their KWSP no and fill in the form (provided every month from KWSP through mail), deduct their contribution (11 % or 8%) (employer pay minimum 12%) and pay at any kwsp branch or any banks that allow you to pay.


Statement, you might want to check with your old company. Maybe KWSP sent to the old company address. Or else check with any branch and update your address to your mailing address. You can also go to those portable machine to check your epf statement. There is one at Menara consplant at subang jaya (inside CIMB bank)


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