Employers’ federation objects to any increase in Socso contribution

The Malaysian Employers Federation (MEF) has strongly objected to any increase in the rates of contribution by employers and employees to the Social Security Organisation (Socso). According to MEF executive director Shamsuddin Bardan yesterday, the Socso management should control and reduce the costs of managing the organisation instead of increasing the rates of contribution.

He was responding to the recent announcement by Deputy Human Resource Minister Datuk Maznah Mazlan that the crackdown against errant employers launched by SOCSO had resulted in a 100% increase in contribution. For record, currently, 2.25% cent of an employee’s monthly salary is paid to Socso where the employer contributes 1.75% and the employee, 0.5%.

Last year alone, RM1.8bil was collected from employers and employees but not much information was made available to the stakeholders on its operational and administrative expenses.

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Tags: Employment, SOCSO, Socso contribution table, Socso rate

Category: Employer, Employment