Maximum contribution rate under Employees’ Social Security Act and Employment Insurance System Act to be increased from 1 October 2024
The Employees’ Social Security (Amendment) Act 2024 (‘SOCSO Amendment Act’) and the Employment Insurance System (Amendment) Act 2024 (‘EIS Amendment Act’) will come into operation on 1 October 2024.
The SOCSO Amendment Act and the EIS Amendment Act will increase the maximum limit of the monthly wages of an employee from RM5,000 to RM6,000 per month for the purposes of determining the contribution and coverage under the Social Security Act 1969 and the Employment Insurance System Act 2017 respectively.
