New law to provide social security for the self-employed tabled (Updated)

KUALA LUMPUR: A proposed new law to provide social security for the self-employed was tabled in the Dewan Rakyat today.
The Self-Employment Social Security Bill 2017 would require for every self-employed person to register with and pay contribution to the Social Security Organisation (Socso).
Under the proposed new act, any person who fails to comply with the requirement would be committing an offence punishable with a fine or/and jail term.
"Every self-employed person shall register with and pay contribution to the Organisation (Socso) in the manner as prescribed for every self-employment activity he is carrying out," the bill read.
The bill stated that an offender, upon conviction, would be liable to a fine not exceeding RM10,000 or imprisonment of not more than two years, or both.
Human Resources Minister Datuk Seri Richard Riot tabled the bill for first reading. The second reading is expected to be tabled in the same session.
The amount of contribution for each self-employed person would depend on his monthly earnings, which ranges between the minimum of RM1,050 to a maximum of RM3,950 in the bill.
Those who earn at the lower end of the range would have to contribute RM13.10 per month, while those at the higher end would have to contribute RM49.40 per month.
The bill also empowers Socso to implement the Self-Employment Social Security Scheme to those who are self-employed.
At present, the existing social security is administered by the Social Security Board under the Employees' Social Security Act 1969.
The current regulation only involves employees whose contributions are paid by both the employer and employee.