EPF-Socso merger not feasible, says employers federation | The Malaysian Insight

The Malaysian Employers Federation says the Employees Provident Fund and the Social Security Organisation were established for two different purposes and merging them would create many issues. – The Malaysian Insight graphic, March 11, 2023.

‘’Statutes-wise, the respective laws need to be amended and ironed out to put this idea into place. Also, the process of amending the laws will consume a lot of time, and there are other pressing matters that the government needs to prioritise,’’ MEF president Dr Syed Hussain Syed Husman said in a statement.

Syed Hussain opined that combining these two entities into one creates a situation where both agencies functions intertwine and overlap. ‘’In addition, EPF contribution is compulsory for local employees, while Socso is mandatory for both local and foreign employees.

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Malaysian Employers Federation: EPF-Socso merger not feasibleKUALA LUMPUR, March 11 — The merger of the Employees Provident Fund (EPF) and the Social Security Organisation (Socso) is not a feasible course of action, said the Malaysian...
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EPF-Socso merger not feasible: MEFMalaysian Employers Federation president Syed Hussain said merging them into one entity will result in greater financial risk theSun theSundaily funds salary contribution EPF Socso merge finance Malaysia
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