SOCSO

Employers will experience a slight increase in contribution cost with the proposed expansion of the Social Security Organisation (Socso, or Perkeso in Bahasa Malaysia) protection scheme to all  private sector employees.

The proposal to raise the ceiling contribution from RM3,000 to RM4,000 is based on the increase of average wages of  new employees, especially the executives in the private sector. According to the ministry, a review of Socso contributions was last carried out in 2005 when the ceiling was raised from RM2,000 to RM3,000.