Payroll Malaysia - SOCSO and EIS Contribution formula
Updated: Oct 9
Effective from September 2022, PERKESO has changed the SOCSO and EIS Contribution formula, which will affect those with the salary MYR4K and above.
There is a new incremental contribution rate up to RM5K, from previous RM4K.
If you salary is MYR6,000/month, which has hit the maximum contribution rate, the following will be the changes.
Before Sep 2022
SOCSO EMPLOYEE - MYR19.75
SOCSO EMPLOYER - MYR69.05
EIS EMPLOYEE - MYR7.90
EIS EMPLOYER - MYR7.90
After Sep 2022
SOCSO EMPLOYEE - MYR24.75
SOCSO EMPLOYER - MYR86.65
EIS EMPLOYEE - MYR9.90
EIS EMPLOYER- MYR9.90
In short, the total contribution (SOCSO and EIS) has increased from MYR104.60 to MYR131.20 (25.43%).
Reference to the SOCSO and EIS contribution in PERKESO website.