Malaysia’s largest bank, Maybank has raised the retirement age for all its management staff from 55 to 57. With immediate effect, all female management staff will also enjoy a 90-day paid maternity leave as against 60 days previously. The bank, he added, decided to extend the retirement age for all employees by another two years [...]
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 [...]
Employers must make EPF and Socso contributions for their part-time employees as long as they work between 30% and 70% of the number of hours clocked in by regular staff. Human Resources Minister Datuk Dr S. Subramaniam said employers would have no excuse not to make the contributions for these workers. “The Employment Act has [...]
