Premia TNC Hong Kong Payroll service

Malaysia Payroll Services

Payroll processing is more complicated for foreign businesses and time consuming due to various statutory requirements. Payroll outsourcing is the best solution for the company. 

Let Premia TNC minimal hassle with payroll and increase business operation efficiently.

Our Payroll Services

  •   EPF (Employees’ Provident Fund) Account Application
  •   SOCSO (Social Security Organisation) Account Application
  •   EIS (Employment Insurance System) Account Application
  •   Work Permit Application for foreigner
  •   Monthly Payroll Processing
  •   Monthly Payslip and Payroll Report
  •   Submission of statutory payment (EPF, SOCSO, EIS, PCB)
  •   Preparation of Form E and Form EA

Employees Provident Fund (EPF)

As an employer, your responsibilities include paying EPF contribution in respects of any person you have engaged to work under a Contract of Service or Apprenticeship. You have to ensure accurate monthly contributions are deducted from your employees’ salary and remitted to EPF.

Employer must make monthly contribution payment on or before 15th of the month.

Social Security Organisation (SOCSO) – Employees’ Social Security Act 1969 (Act 4)

The Social Security Organisation (SOCSO) provides two social security schemes to protect the welfare of employees and their dependents under the Employees’ Social Security Act 1969 (Act 4).

Employer Eligibility

Any employer who hires one or more employees as defined under the Act is required to register and make contributions to SOCSO.

Employee's Eligibility

All employees who are employed under a contract of service or apprenticeship in the private sector and contractual / temporary staff of Federal / State Government as well as Federal / State Statutory Bodies need to be registered and covered by SOCSO. The rate of contribution is capped at monthly wage ceiling of RM4,000.00.

Malaysia Payroll - Contributions

Contributions to SOCSO are compulsory under the Act for eligible employers and employees.

These schemes are classified into 2 categories of contribution:

First Category

Employment Injury Insurance Scheme and Invalidity Pension Scheme. The contribution payment is made by both the employer and employee. The rate of contribution under this category comprises 1.75% of employer’s share and 0.5% of employees’ monthly wages according to the contribution schedule.

 

Second Category

The rate of contribution under this category is 1.25% of employees’ monthly wages, payable by the employer, based on the contribution schedule. All employees who have reached the age of 60 must be covered under this category for the Employment Injury Scheme only.

Social Security Organisation (SOCSO) – Employment Insurance System Act 2017 (Act 800)

The Employment Insurance System (EIS) was implemented in January 2018 to provide immediate financial assistance to insured workers who lost their employment. The affected workers will also be assisted to find new jobs and if necessary, they are given training to improve their employability.

EIS Objectives

• Provide immediate financial assistance to contributing employees who have lost their jobs
• Help unemployed workers find new employment through the Re-Employment Placement Program
• Increase the employability of unemployed workers through vocational training

EIS Contribution Rate

• Employer: 0.2%
• Employee: 0.2%

Human Resources Development Fund (HRDF) – PSMB Act 2001

An act to provide for the imposition and collection of a human resources development (HRD) levy for the purpose of promoting the training and development of employees, apprentices and trainees, the establishment and the administration of the Fund by the Corporation and for matters connect therewith.

Sectors covered under PSMB Act 2001:

• Manufacturing
• Services
• Mining and Quarrying

Under Section 13(1) of the PSMB Act 2001 stipulates that every employer who is covered under the Act is required to register with HRDF within such time and manner as may be prescribed.

Eligibility criteria for Registration

The PSMB Act 2001 is applicable to employer within the 63 sub-sectors

Category Criteria
Mandatory (1% levy) Employers with 10 Malaysian Employees and above
Voluntary (0.5%) Employers with 5 to 9 Malaysian Employees

 

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Frequently Asked Questions

1. WHO ENTITLED TO BASIC PROTECTION UNDER THE EMPLOYMENT ORDINANCE

An employee who has been employed continuously by the same employer for 4 or more weeks, with at least 18 hours worked each week, is regarded as being employed under a continuous contract. This employee is entitled to basic protections under the Employment Ordinance.

2. WHAT IS WAGES INCLUDED?

Wages means all remuneration, earnings, allowances, tips and service charges under an employment contract. Allowances including travelling allowances, attendance allowances, commission and overtime pay are within the definition of wages.

An employer should pay salary to an employee no later than 7 days after the end of the salary period.

3. WHO CAN ENTITLE THE REST DAYS, HOLIDAYS AND LEAVE

An employee should enjoy rest days, statutory holidays, and paid annual leave during employment. Employees are entitled to annual leave with pay after having been employed under a continuous contract for every 12 months.

4. HOW TO CALCULATE MANDATORY PROVIDENT FUND (MPF) SCHEME

An employer must comply with obligations under the MPF Ordinance. An employee and his/her employer are both required to contribute 5% of the employee’s relevant income which is capped at a maximum of HK$1,500, as mandatory contributions for and in respect of the employee to an MPF scheme.

Contact us now to hire payroll services in Hong Kong.