During a retrenchment exercise, employers must submit a notification to the nearest Department of Labour, using the standard “Borang PK” form, at least 30 days before the termination of employment.
Payroll calculation involves determining the amount of compensation due to employees, including wages, salaries, and deductions. The process can vary depending on employment status, hours worked, tax withholdings, and benefits.
The Employees' Provident Fund (EPF) is a social security and retirement savings scheme by KWSP. Every employee and every employer of a person who is an employee within the meaning of this Act shall be liable to pay monthly contributions on the number of wages at the rate respectively set out in the Third Schedule.
SOCSO Contribution is a payment to the Social Security Organization made by both employees and employers. SOCSO Contributions should be made for each month of salary payment as a deduction from the employee's net pay.
The Employment Insurance System (EIS) in Malaysia is a social security scheme designed to offer financial assistance and support to workers who lose their jobs.
PCB/MTD is an income tax deduction mechanism from an employee’s current monthly remuneration following the schedule of Monthly Tax Deductions (PCB) or other methods approved by the Malaysian government.
The Human Resources Corporation (HRD Corp) is a fund created from levies collected from employers in manufacturing and service sectors, both mandatory and optional registrants. Its main purpose is to support training and skill improvement for the Malaysian workforce.
When providing an employment contract to staff or contractors, the differentiation between a Contract of Service' and a 'Contract for Service' hinges on the employment or service arrangement and the relationship between the involved parties.
When your company decides to hire a foreigner to work, there are key steps to take when hiring foreign nationals in Malaysia.
The process of recruitment involves several key steps, and there are some necessary documents required to compile when onboarding a new staff:
Payroll software automates the process of calculating employee wages based on hours worked, overtime, and any other applicable pay rates. Here are some key features and functionalities commonly found in payroll software:
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