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.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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...
Source: malaymail - 🏆 1. / 86 Read more »

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
Source: theSundaily - 🏆 25. / 51 Read more »