What is Social Security Organization (SOCSO) / Pertubuhan Keselamatan Sosial (PERKESO) Social Security Organization (SOCSO), or also known as PERKESO (Pertubuhan Keselamatan Sosial) was established on 1 January 1971, under the Employees’ Social Security Act 1969 as a government department of the Ministry of Labour and Manpower. SOCSO is able to provide free medical treatment,…
Mandatory Contributions for Employees Provident Fund (EPF) / Kumpulan Wang Simpanan Pekerja (KWSP) Employees Provident Fund (EPF), or also known as Kumpulan Wang Simpanan Pekerja (KWSP) in Malaysia was established according to the Laws of Malaysia. Employees Provident Fund Act 1991 (Act 452) provides retirement benefits for members through management of their savings in an…
Should You Avoid Low Secretarial Fees Service Provider Everyone is looking to the highest quality with the lowest price. However, not every service or things with lowest pricing is at highest quality. Although some firms provide low secretarial fees, but they would probably not send reminders on time to their client, which ended up the…
Every Company Needs to Submit Your Form E What is Form E? Who needs to file the Form E? What if you fail to submit Form E? Borang E is an Employer’s (annual) Return of Remuneration for every calendar year and due for submission by 31st March of the following calendar year. According to the…
Penalty/Fine in Malaysia for the Loss of Secretarial File, Secretarial File Get Burned or Stolen What happen if your secretarial file got burned or stolen? Loss of secretarial file is definitely something that caused you great pain. Under the Companies Act 1965, S156: Failure to have minutes of proceeding entered into the minute’s book.…
GST Treatment for Imported Services (Reverse Charge) What is the GST treatment for imported services? GST treatment for imported services is through a concept of “reverse charge”. Reverse Charge Mechanism also known as Self Recipient Accounting (RSA). Since the supplier is not in Malaysia and he/she supplies services to a customer in Malaysia, he/she does…
Bankrupt but still worth millions – is that even possible? This article will show you that going bankrupt is not the same as being worthless. Some entrepreneurs smartly get out of this predicament still as champions as they are, still with millions in their bank accounts, assets, and business, how could these high-spirited persons save…
What Does a Nominee Director Do in Malaysia and Why You Need Them? – Who is a nominee director? – What are the types of nominee directors? – What are the duties of a nominee director? The above are among the list of crucial questions that must be answered for a better understanding of a…
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