Legislative Update for PeopleSoft HCM Global Payroll for Malaysia - SOCSO-EIS Rate Changes 2022

September 8, 2022 | 1 minute read
Bharathi Radha
Principal Product Manager
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The Ministry of Human Resources through the Social Security Organization (SOCSO)  implemented new salary ceilings for contributions from RM4,000 to RM5,000 per month starting  1st September 2022.  For employees whose wages are more than RM5,000 a month, the contribution rate shall be in the salary group of RM5,000 a month.

The transition period for employers to comply with the new contribution rates will be six months starting from 1st  September 2022 to 28th  February 2023.

More information on this has been provided in our Position Statement which can be found at My Oracle Support, Document ID < 2847481.1>.  

We encourage our customers to review the latest statement to keep up to date.

Bharathi Radha

Principal Product Manager

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