[Version 2.0] How the MySyarikat System Calculates Staff SOCSO Contributions (SOCSO Automatic)
The MySyarikat system calculates the SOCSO deduction using basic salary & the deduction is calculated according to the rate set by SOCSO.
For reference & more information, you can refer to the following link: https://www.perkeso.gov.my/en/rate-of-contribution.html
Note: This function needs to be turned on to avoid any SOCSO deduction calculation errors
How is this value calculated in the system?
Click the 'View' icon next to How did we calculate this? And the following description will be displayed:
1) The calculation is calculated according to the basic salary of the staff
2) Look at the Rate of contribution for Employees' Social Security Act 1969 (Act 4) table on the SOCSO website. Then, you can refer to column 19, the basic salary amount and deduction value for staff & employer will be displayed
For reference & more information, you can refer to the following link: https://www.perkeso.gov.my/en/rate-of-contribution.html
Note: This function needs to be turned on to avoid any SOCSO deduction calculation errors
How is this value calculated in the system?
Click the 'View' icon next to How did we calculate this? And the following description will be displayed:
1) The calculation is calculated according to the basic salary of the staff
2) Look at the Rate of contribution for Employees' Social Security Act 1969 (Act 4) table on the SOCSO website. Then, you can refer to column 19, the basic salary amount and deduction value for staff & employer will be displayed
Updated on: 06/03/2024
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