More companies in Malaysia register for social security protection
Some 8,843 new employers nationwide have registered for social security protection by the Social Security Organisation (Socso) over May 1 to 31.
SOCSO provides social security protection in the form of cash and benefits to private sector workers in the event of workplace injuries, emergencies, occupational sickness, and death.
“I urge all employers who have not yet registered to come forward. We are still accepting registrations at Socso offices nationwide, and no action will be taken,” said Datuk Seri Dr Mohammed Azman Aziz Mohammed, chief executive officer of Socso ,according to Bernama.
He noted that the rise in registration was an “impressive” increase, compared to the 14% registration rate of 7,709 employers who registered in April.
Based on Malaysia’s Employees Social Security Act 1969 (Act 4) and the Employment Insurance System Act 2017 (Act 800), all those who employ at least one employee, regardless of salary, must register with Socso.
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Employers should not view the obligation as a burden, as the contribution rate is 1.75% to employers, and 0.5% to employees, Dr Mohammed Azman noted. “Do not view this as a burden; if anything happens to employees, who will support them and their families?,” he asked.
