Employer Insurance Scheme Malaysia

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Employer insurance scheme malaysia. The insurance scheme which will be administered by the social security organisation socso seeks to provide temporary financial assistance for up to six months to workers who are retrenched. Chubb insurance malaysia berhad formerly known as ace jerneh insurance berhad is one of the panel insurance companies. Proposed by prime minister datuk seri najib razak the employment insurance scheme eis is expected to be tabled in parliament in the july august 2017 sitting. As the name suggests the eis is primarily aimed to help laid off employees who are looking for another job and who contribute to socso.

As provided under section 26 2 of the workmen s compensation act 1952 it is mandatory for every employer to insure all their foreign workers employed by the company under the foreign workers compensation scheme fwcs. Eis aims to provide employment insurance public employment services and labor market information lmi to the malaysian workforce. Last week prime minister datuk seri najib razak announced that the government has agreed to implement the proposed employment insurance scheme eis. Legal news analysis asia pacific malaysia labour employment 29 march 2017 last week prime minister datuk seri najib razak announced that the government has agreed to implement the proposed employment insurance scheme eis.

I c your complaint send to 15888. It has been reported in the star today that workers in the private sector who have been laid off will be provided financial assistance under the new employment insurance scheme eis that will be introduced in 2015. While this is technically good news for workers there have been no specifics given about how the eis will actually work. Welcome to the employment insurance system eis homepage.

Written by imoney editorial illustration by syazrul azmi. It is a compulsory government scheme that covers all private sector employees automatically with employers and employees each contributing 0 2 of the employee s salary every month. If you are an eis contributor who recently lost your job you may be eligible to receive benefits. Malaysia on the other hand is catching up to provide retrenchment benefits to unemployed malaysians.

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. It provides financial support for those who are between jobs allowing them some peace of mind while looking for their next source of employment. 03 4256 7798 sms. The eis will affect an estimated 6 5 million employees in the private sector.

The new employment insurance scheme by socso. Hence to protect employees who face risk of retrenchment the malaysian government launched an employment insurance scheme on 27 october this year. The eis will affect an estimated 6 5 million employees in the private sector.