Employee Insurance Scheme Malaysia

We lay out everything about the employee insurance scheme right here.

Employee insurance scheme malaysia. Chubb insurance malaysia berhad formerly known as ace jerneh insurance berhad is one of the panel insurance companies appointed and approved by the ministry of human resources to underwrite fwcs. 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. Malaysia on the other hand is catching up to provide retrenchment benefits to unemployed malaysians. The scheme provides foreign workers with personal accident and repatriation benefits during and outside of working hours.

It provides financial support for those who are between jobs allowing them some peace of mind while looking for their next source of employment. Hence to protect employees who face risk of retrenchment the malaysian government launched an employment insurance scheme on 27 october this year. First introduced in 2018 the employment insurance system eis is a scheme that offers you unemployment benefits and job search assistance should you lose your job for reasons like retrenchment redundancy and so on. I c your complaint send to 15888.

The eis will be administered by socso. The eis will affect an estimated 6 5 million employees in the private sector. Written by imoney editorial illustration by syazrul azmi. The eis contribution total approximately 1 5 of monthly wages with the employee and employer contributing 50 each.

Eis aims to provide employment insurance public employment services and labor market information lmi to the malaysian workforce. 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. If you are an eis contributor who recently lost your job you may be eligible to receive benefits. It is a compulsory government scheme that covers all private sector employees automatically with employers and employees each contributing 0 2 of the employee s salary every month.

The new employment insurance scheme by socso. As the name suggests the eis is primarily aimed to help laid off employees who are looking for another job and who contribute to socso. All private sector employers with one or more employees will be required to register under the eis scheme and all employees will need to be insured. 03 4256 7798 sms.

Menara perkeso 281 jalan ampang 50538 kuala lumpur. The government announced that the employee insurance scheme is intended to take effect in 2018.