Gov't tables bill to extend Socso to self-employed
The government has tabled a bill to extend job insurance under the Social Security Organisation (Socso) to self-employed individuals.
The Self-Employment Social Security makes it mandatory for self-employed individuals to make monthly contributions to Socso.
On the low-end of the contribution scale, those earning RM1,050 must make a monthly payment of RM13.10...
The government has tabled a bill to extend job insurance under the Social Security Organisation (Socso) to self-employed individuals.
The Self-Employment Social Security makes it mandatory for self-employed individuals to make monthly contributions to Socso.
On the low-end of the contribution scale, those earning RM1,050 must make a monthly payment of RM13.10.
On the high-end, those earning RM3,950 per month must pay RM49.40.
Failure to make contributions can result in a fine of up to RM10,000, or up to two years' imprisonment or both.
Contributors will enjoy insurance benefits in the event of work-related accidents.
In the event of death, the self-employed individual's beneficiaries are also entitled to payouts.
