Employment Insurance System 2018

The malaysian government passed the employment insurance system bill in october 2017 as a new protection measure and it became compulsory on 1 january 2018.

Employment insurance system 2018. The table of contribution rate can be refer here. The employment insurance system eis was first implemented in january 2018 by perkeso. It is a financial scheme aimed at helping employees who lost their jobs until they find new employment. The employment insurance system bill was first tabled in parliament in 2017 with employers and employees making contributions to the fund at the start of 2018.

Introduced in 2018 the employment insurance system eis is designed as a safety net for workers who have lost their jobs due to retrenchment or other similar circumstances. Both employers and employees are required to contribution 0 2 of their monthly wages. Interim re employment placement programme irepp 2018 a irepp 2018 may provide an employee who is an eis contributor with loss of employment loe the interim assistance benefits as follows. It s believed that eis will add efficiency of the labor market in malaysia through a better structured system of matching supply and demand which in turn will lead to increased productivity and competitiveness of the industries.

05 february 2018 malaysian companies with one or more employee must now be compliant with the newly implemented employment insurance system eis. On a final note the employment insurance system eis is expected to start in january 2018. Created by agatha tan on jan 03 2018 go to start of metadata please refer to knowledge based article 2584508 perkeso eis employment insurance scheme effective 2018 for detail information in the system. Ii assistance in participation of ireep activities e g.

Finally it is come to the end. It provides financial support for those who are between jobs allowing them some peace of mind while looking for their next source of employment. Eis will start to implement from 1st january 2018. After months of discussions from the policy makers malaysia employer federations mef academician public employers etc.