Malaysia turns to e-payrolls to streamline business operations
Malaysia has launched an e-payroll system that will help SMEs and entrepreneurs streamline human resource operations and lower operating costs in the services industry.
“This facility [e-Payroll] is able to automate and combine various payroll, compensation, [EPF] contribution and deduction functions into one simple application,” said EPF chairman Tan Sri Ahmad Badri Mohd Zahir.
“Employees would also receive accurate and correct salary and contribution slips … employers can [be] rest assured that through e-Payroll, the payroll function can be done accurately and correctly while saving the company’s time and costs,” he added.
Developed by the Employees Provident Fund (EPF), the digital payroll system will enable SMEs and entrepreneurs to focus instead on areas such as marketing, said Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, according to Bernama.
“e-Payroll plays an important role in helping employers manage employment records digitally, as well as facilitating the subscription management process,” he said.
“The e-Payroll initiative is one of the mediums that supports the government’s efforts in creating a more comprehensive social safety net in the country,” he added.
Due to the pandemic, almost all types of industries and businesses were forced to shift online and adopt digital operations, the minister noted.