CCM Extension for Compound Reduction Incentives Under the Companies Act 1965
Companies and company directors are eligible for the compound reduction incentive where a reduction of 90% of the initial compound amount for all compounds that has been offered by The Companies Commission of Malaysia (CCM) under the Companies Act 1965.
The incentive on the compound reduction has been extended to 31 October 2022.
Source and cited from here.
Update Notice on Contribution Amount for Act 4 and Act 800 in accordance with the Increment of the Wage Ceiling Limit
Effective from September 1, 2022, SOCSO will enforce a new wage ceiling for contribution from RM4,000 to RM 5,000 per month. In increasing this contribution salary ceiling, the Employee Social Security Act 1969 (Act 4) and the Employment Insurance System Act 2017 (Act 800) will be amended to increase the salary ceiling limit for contribution purposes from RM4,000 to RM5,000 per month.
Specifically, the contribution amount that will apply to employees who earn more than RM4,000 per month. For employees who earn more than RM5,000 per month, the contribution amount will follow the salary ceiling limit of RM5,000.
Source and cited from here.
Employment (Amendment) Act 2022 confirms postponement to January 1, 2023
The implementation of the Employment (Amendment) Act 2022 and the Employment (Amendment of First Schedule) Order 2022, has been postponed from 1 September 2022, to 1 January 2023.
The deferment on the implementation includes the amendments to the Employment Act 1955 include, among others, reduction of the working hours from 48 hours to 45 hours a week, introduction of flexible work arrangements, extended maternity leave from 60 days to 98 days and paternity leave entitlement of 7 days. The amendments to the First Schedule of the Employment Act 1955 widen the scope of applicability of the Act to all employees.
Source and cited from here.
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