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 business owner need pay sosco for himself?

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j.passing.by
post May 9 2019, 05:08 AM

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This is strange. I can recalled 2 well known conditions regarding who qualify under socso, a) once in, always in and b) wages under 3k.

And the rules are still there... as listed in their website, as posted in above post.

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Edit: the link in above post is not perkeso website... and may not be up to date. Check out perkeso site for latest act, rate of contributions, and compound fines.

I think your uncle should have sought clarification on the matter before accepting that he himself is eligible for socso. Once acknowledge that he is eligible, then compound fines for late contributions and/or late registration is inevitable.



This post has been edited by j.passing.by: May 9 2019, 06:46 AM
j.passing.by
post May 9 2019, 04:06 PM

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QUOTE(yklooi @ May 9 2019, 09:25 AM)
I think the 3k is the ceiling amount they used to compute the contribution rate.....
btw, now it is 4k

"Monthly contribution is subject to the ceiling of the insured wage of RM4,000.00 per month."

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The 3k is a cut-off point... if the starting pay (1st job) is above 3k, then you are out of socso but can opt in. Years ago, it was lower... either 2k or 2.5k.

If 3k and below, you are eligible and must registered into socso... and 'once in always in', so when later salary increased to above 3k, you cannot opt out of socso and must continue to contribute to socso; unless if you later join the civil service or self-employed or falls within some other criteria that is outside the scope of socso.

The 4k is a cap on the rate of contribution each month, so even if you are way above 4k, the monthly contribution is fixed at the 4k rate.


j.passing.by
post May 9 2019, 05:40 PM

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No wonder perkeso is now so rich. smile.gif

Yes, was browsing through its site and it was silent on the previously 3k cut off point...

B. Employees

It is compulsory for all eligible employees who are Malaysian citizens and permanent residents to register.


Employee’s Eligibility
All employees who are employed under a contract of service or apprenticeship in the private sector and contractual / temporary staff of Federal / State Government as well as Federal / State Statutory Bodies need to be registered and covered by SOCSO. The rate of contribution is capped at monthly wage ceiling of RM4,000.00.

How come I don't notice any big hooha on the new rule? Was there any protest?


 

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