The proposed EIS initiative will be managed by SOCSO, and the contribution from both employers and employees towards the employee’s insurance account is compulsory. In addition to that, employees looking for new jobs will also be provided assistance with job search, career counselling and job suitability under the EIS. Intended to act as a “safety net” for retrenched employees, the EIS is will provide financial aid to employees who lost their jobs until they find new employment. In addition to this, Prime Minister Datuk Seri Najib Razak had announced on May 1, 2017, that the government has agreed to provide the Social Security Organisation (SOCSO) with RM70 million for the payment of financial benefits in relation to the EIS from next year. As the name suggests, the EIS is primarily aimed to help laid-off employees who are looking for another job and who contribute to SOCSO. Proposed by Prime Minister Datuk Seri Najib Razak, the Employment Insurance Scheme (EIS) is expected to be tabled in parliament in the July / August 2017 sitting.
Malaysia, on the other hand, is catching up to provide retrenchment benefits to unemployed Malaysians. In Singapore, the payment of retrenchment benefits is mandatory for workers with more than two years of employment if it is specified in their individual employment contracts (or the collective agreements negotiated by their unions). Melayu (Malay ) 简体中文 (Chinese (Simplified) ) Employment Insurance Scheme (EIS) in Malaysia Sales and Service Tax (SST) in Malaysia.Ways To Pay For Sales And Services Tax (SST) In Malaysia.Guide to Imported Services for Service Tax.SST Treatment in Designated Area and Special Area.How to Check SST Registration Status for A Business in Malaysia.Goods and Person Exempted from Sales Tax.Limited Liability Partnership LLP Setup Form.Name Search for Limited Liability Partnership (LLP).Limited Liability Partnership (LLP/PLT) Compliance Requirements.Taxation for Limited Liability Partnership LLP.Sole Proprietor vs LLP vs General Partnership vs Company.Guide to Select Your Malaysia Company Names.Standard Procedures for Incorporation in Malaysia.An Expat’s Guide: Commonly Faced Problems by Foreigner When Doing Business in Malaysia.An Expatriate Guide to Starting a Business in Malaysia as Foreigner.Equity Policy in the Manufacturing Sector.Liberalisation of the Services Sector in Malaysia.Key Considerations Before a Foreigner Starts a Business in Malaysia.Setting Up Foreign Owned Company in Malaysia.Appointing the Right Person as your Nominee Director in Malaysia.Why 3E Accounting’s Company Incorporation Package is the best in Malaysia.Venture to Malaysia with 3E Accounting Singapore.Malaysia Company Incorporation Services.Malaysia Company Incorporation Specialist
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