Category HR and Payroll

Like EPF contributions and MTD, Employers are also obliged to make deductions for SOCSO and EIS contributions on behalf of employees, in addition to making a small contribution to the employees’ accounts out of employers’ pocket. SOCSO and EIS are…

EPF is a savings fund that private sector employees and employers in Malaysia are obliged to contribute monthly. Although employees’ contribution comes from their salaries, it is actually the responsibility of employers to make the deductions from employees’ and remit…

Before monthly tax deduction (MTD) was introduced, it was the responsibility of employees to ensure that, whenever due, income tax is paid from their employment income. When MTD was introduced, as far employment income is concerned, it became the employers’…

Employment Act 1955 (Act 265) specifies the way in which one can calculate one’s ordinary rate of pay, and also that rate of pay for work done outside of normal hours of work. Normal hours of work can be said…

Payroll documentation serves as sources for the figures used in payroll calculations. Even if you were to outsource your payroll processing, you still need to maintain payroll documentation for each employee, and provide them to your payroll services vendor for…

Many of you are in business, and your goal is to always maintain a great bottom line for your company. Unless your business is a one-person show, you must have employees to help you make that great bottom line. In…

Blockchain is known as Distributed Ledger Technology (DLT), a digital system that records asset transactions and their details in multiple locations simultaneously. It offers audit firms and accountants an opportunity to streamline their audits and processes since it provides a transparent and immutable record of all data. It helps to ensure that the data is truthful and accurate.