Payslip Template Malaysia For Payroll Software Malaysia
Each company must followed employment act to pay their employee with payslip template malaysia that includes particular related details of wages and allowances earned during the period of wages should be pay for every month.
Payslip template malaysia is such an important things for employee that can let them pay for their monthly expenses. However, some employee do not know the details of their payslip template that be deduct for several expenses from be hire by the organization. As you know, not all the payment be pay by your employer as a reason already hiring you. There are several recurring payment that comes from employees.
Payslip Template Malaysia
√ Payslip Template Malaysia Introduction
√ Types of Recurring Payments be include in Monthly Payslip
√ HRDF for Training Program Deduction in Payslip Malaysia
√ Profesional Insurance Deduction in Payslip Template Malaysia
√ Contact us For More About Payslip Template Malaysia
Types of Recurring Payments be Included in your Monthly Payslip Template Malaysia
Socso Deduction for Payslip Template Malaysia
Also known as PERKESO (Pertubuhan Keselamatan Sosial Malaysia), SOCSO is a government agency set up under the Employees’ Social Security Act that runs a social security fund for Malaysians. SOCSO will help you in two type of schemed which are injury scheme and invalidity scheme.
Employment Injury Scheme provides protection to an employee against accident or an occupational disease arising out of and in the course of his employment. The protection under this scheme covers the following:
- Industrial accident
- Commuting accident – on a route between his place of residence or stay and his place of work – on a journey made for any reason which is directly connected to his employment – on a journey between his place of work and the place where he takes his meal during any authorized recess
- Accident during emergency – Accident which occurs during an emergency at the employer’s premises while in the course of assisting, rescuing, or protecting other people from disaster or danger during an emergency.
- Occupational diseases – Diseases resulted from his occupation as described in the Fifth Schedule of Employees’ Social Security Act 1969.
Benefits under The Employment Injury Scheme
- Medical Benefit
- Temporary Disablement Benefit
- Permanent Disablement Benefit
- Constant-attendance Allowance
- Facilities for Physical / Vocational Rehabilitation
- Dependants’ Benefit
- Funeral Benefit
- Education Benefit
Invalidity Scheme give a person that shall be considered as suffering from invalidity by reason of specific morbid condition of permanent nature either incurable or is not likely to be cured and no longer capable of earning, by work corresponding to his strength and physical ability, at least 1/3 of the customary earnings of a sound Insured Person.
The scheme provides 24-hour coverage to employee who suffers from invalidity or death due to any cause and not related to his employment.
Benefits Under Invalidity Scheme
- Invalidity Pension
- Invalidity Grant
- Constant-attendance Allowance
- Survivors’ Pension
- Funeral Benefit
- Facilities for Physical / Vocational Rehabilitation and Dialysis
- Education Benefit
EPF Deduction in Payslip Template Malaysia
The most obvious of the contributions, but it’s worth mentioning. You probably already know about EPF even if you don’t know the details about how it works. Under EPF scheme, an employee has to pay a certain contribution towards the scheme and an equal contribution is paid by the employer. The employee gets a lump sum amount including self and employer’s contribution with interest on both, on retirement.
Looking at your payslip, you’ll see that you contribute 11% of your salary every month, which gets deducted from your payslip salary We’ve all probably wished that we could keep the 11% from time to time.
The contribution paid by the employer is 12% of basic wages plus dearness allowance plus retaining allowance. An equal contribution is payable by the employee also. In the case of establishments which employ less than 20 employees or meet certain other conditions, as per the EPFO rules, the contribution rate for both employee and the employer is limited to 10 percent.
EIS is a financial scheme aimed at helping employees who have lost their job, and it is managed by Social Security Organisation (Socso). This scheme is meant to enable retrenched workers to gain monetary funds that would help them get back on their feet for up to six months.
Employers and employees will contribute 0.2% each of an employee’s salary, this means that the total contribution would be 0.4% of an employee’s monthly salary.
EIS Deduction in Payslip Template Malaysia
The contribution to EIS will begin in 2018, but you can only start making claims if you are retrenched in 2019 onwards. The EIS doesn’t just provide you money upon retrenchment. It also comes with a number of benefits such as:
- Job-hunting assistance
- Re-employment allowance
- Reduced income allowance
- Training allowance
- Career counseling
HRDF for Training Program Deduction in Payslip Malaysia
Some of the company that specialize in manufacturing or services need to pay another levy under the Pembangunan Sumber Manusia Berhad Act, which manages the Human Resource Development Fund (HRDF) of Malaysia. HRDF will facilitate training programs to upgrade worker skills in Malaysia.
The law behind their formation basically requires companies to commit some money to training their employees, by paying 1% of their employees’ salaries to the fund, which they can use in the form of training grants to send their employees to training programs that benefit their industry.
For example, a hotel company who has paid money to the HRDF can send their employees to a workshop where they learn about improving the hotel’s operations. But a computer chip factory might get their workers to learn about avoiding workplace accidents. The training programs must come from training providers registered with the HRDF.
Professional Insurance Deduction in Payslip Template Malaysia
Even if you’re the most careful and detail-oriented person in the world, accidents are sometimes simply unavoidable. Freak accidents can happen and we may never anticipate them perfectly.
This is why companies in certain industries like medicine, law, advertising, and architecture may purchase what is called professional indemnity insurance to cover any unforeseen losses that might occur – just in case.
Contact us For More About Payslip Template Malaysia
We specialized in smart system such as Payroll for both Singapore and Malaysia, Time and Attendance Management System (TMS) which able to integrated with variety of Biometric Devices including Fingerprint, facial and handpunch. We also provide latest BCA EPSS Biometric Authentication System (BAS) for Singapore BCA ePss Submission. Other system including, Access Control Solutions, Project Costing Solutions, HR Solution, Worker Dormitory System, Hostel Billing Management System (VMS), and Cloud based Time Attendance System for multi-chain solutions
Smart Touch Technology Sdn Bhd
Address: 36-02 & 36-03, Jalan Permas 10, Bandar Baru Permas Jaya, 81750 Masai, Johor, Malaysia
Contact Number : +607-3889903
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