Employment Insurance Scheme Malaysia 2018

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Employment insurance scheme malaysia 2018. 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. All members employment insurance system eis. The employment insurance system eis which is designed to help workers and employers cope with a demanding labour market will start next year. New employment insurance scheme eis for terminated employees in malaysia to take effect on 1 january 2018.

Malaysia to implement the employee insurance scheme in 2018. Written by imoney editorial illustration by syazrul azmi. Last week prime minister datuk seri najib razak announced that the government has agreed to implement the proposed employment insurance scheme eis. A sliding scale percentage of wages may be claimed for up to six 6 months of unemployment for job search purposes.

3a06 3a07 block a pusat dagangan phileo damansara ii no. 603 7955 6808 7955 9008 e mail. It provides financial support for those who are between jobs allowing them some peace of mind while looking for their next source of employment. On a final note the employment insurance system eis is expected to start in january 2018.

Eis is aimed at employees who have lost their jobs. 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. The contributions are being collected in a fund in order to provide financial assistance to retrenched employees. Prime minister datuk seri najib tun razak announced yesterday that the scheme will benefit around 6 5 million local employees in the private sector.

It is a financial scheme aimed at helping employees who lost their jobs until they find new employment. 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. The employment insurance system eis was first implemented in january 2018 by perkeso. What is the employee insurance scheme.

The eis will affect an estimated 6 5 million employees in the private sector. An act to provide for the employment insurance scheme implemented from 1 january 2018 administered by the social security organization to provide certain benefits and a re employment placement programme for insured persons in the event of loss of employment which will promote active labour market policies and for matters connected therewith. Ag 02 2018 4 january 2018 to. The bill seeks to establish the employment insurance scheme eis for post exit benefits to affected individuals and to assist with re employment.