The social security organisation in Malaysia is called SOCSO, which stands for Social Security Organisation. Here's what you need to know about SOCSO:
What SOCSO does
Provides social security protection to employees and their dependents.
Offers various schemes, including employment injury, invalidity, and housewives' social security.
Administer, implement, and enforce the Employees' Social Security Act 1969 and the Employees' Social Security (General) Regulations 1971.
How SOCSO Works
Employers and employees contribute to SOCSO based on their income.
Employees who are insured under SOCSO are eligible for benefits such as:
Medical treatment for work-related injuries and illnesses.
Disability allowance if they are unable to work due to work-related injuries or illnesses.
Dependents' pension if the employee dies due to work-related injuries or illnesses.
Housewives are also eligible for certain benefits under the Housewives' Social Security Scheme.
How to Get Help from SOCSO
You can visit the SOCSO website or any SOCSO office.
You can also call the SOCSO hotline at 1-300-22-8000.
For employers, you can access the ASSIST Portal to register and manage your contributions.
Employees and self-employed individuals can use the Matrix Portal to register and manage their contributions and benefits.
Here are some additional resources that you may find helpful:
How Bestar can Help
Bestar can help payroll service in several ways, based on our Business Process Outsourcing (BPO) services and company registration service:
BPO Services:
Payroll processing: Bestar can handle all aspects of payroll processing, including calculating wages, deductions, taxes, and contributions. This frees up your staff to focus on other tasks.
Compliance: Bestar ensures your payroll complies with all relevant Malaysian regulations and deadlines. This can save you time and money in the long run.
Cost savings: By outsourcing your payroll to Bestar, you can save on staff costs, software, and hardware.
Improved efficiency: Bestar's experienced team can process your payroll quickly and accurately.
Reduced risk: Bestar's team is trained to identify and mitigate payroll risks.
Scalability: Bestar can easily scale its services to meet your growing needs.
Integration: Bestar can integrate its payroll services with your existing accounting and HR systems.
Here are some specific services Bestar offers related to payroll:
Payroll calculations: wages, deductions, taxes, contributions
Payslip generation: electronic or paper
Bank transfers: salaries and wages
Compliance with EPF, SOCSO, and other regulations
Leave management: annual leave, sick leave, etc.
Employee self-service portal: access payslips, leave balances, etc.
Reporting and analytics: track payroll costs, analyze trends, etc.
Company Registration Service:
Work permit application: Bestar can help you apply for work permits so that your company can hire foreign talent when needed.
Payroll support: Bestar can provide support with payroll services once your business is up and running.
Free monitoring of submission deadlines: Bestar's Compliance Officer will monitor important deadlines and keep you informed.
Free advice from qualified accountants and tax agents: Bestar can offer advice on payroll compliance and tax matters.
By combining their BPO expertise and company registration services, Bestar can offer a comprehensive solution for payroll services in Malaysia. This can save you time, money, and resources, while ensuring that your payroll is accurate and compliant with all relevant regulations.
Additional Benefits of Using Bestar:
Tailored solutions: Bestar can tailor its services to your specific needs and requirements.
Competitive fees: Bestar offers competitive fees for its services.
Interdisciplinary team: Bestar has a team of experienced professionals from various disciplines, such as accounting, payroll, and law.
High-quality service: Bestar is committed to providing high-quality service to its clients.
Focus on your core business: By outsourcing your payroll to Bestar, you can focus on your core business activities.
If you're looking for a reliable and experienced provider of payroll services in Malaysia, Bestar is a good option to consider. Contact Bestar today!