KUALA LUMPUR: The Employees’ Social Security (Amendment) Bill 2024, which was tabled for the first reading in the Dewan Rakyat today, will, among other things, raise the Social Security Organisation (Socso) insured salary ceiling for workers from RM5,000 to RM6,000 per month.
The bill was tabled by Human Resources Minister Steven Sim Chee Keong (pix) who said the tabling for the second reading of the bill is scheduled for the next meeting.
According to the blue copy circulated in Parliament today, the bill also aims to amend the Fourth Schedule of Act 4 to introduce new contribution rates and corresponding assumed monthly wages for the month when the wages of an employee exceed RM5,000 and RM6,000.
Meanwhile, amendments to the Employment Insurance System Act 2017 [Act 800], were also tabled for the first reading in the Dewan Rakyat. It aims to improve and benefit social security coverage under the Employment Insurance System.
The bill also seeks to amend section 16 of Act 800 to increase the maximum limit of the insurability amount of wages of an employee under Act 800 from RM5,000 to RM6,000 a month and the Second Schedule to Act 800 to introduce new contribution rates payable by the employer and employee in the Second Schedule when the wages of an employee exceed RM5,000 and RM6,000. -Bernama
