Human Resources & Immigration In Malaysia
Human resource is one of the important elements in an organization – the skills and talents of the workforce resemble an intangible asset of a company. In fact, many employers know the importance and benefits of optimizing productivity and success as having employees with the relevant credentials, personality, and the practical application to fit in the job and company culture. However, recruitment process and the employment documentation are seen as a more than mere administrative formality, especially when it comes to the hiring process of foreign talents.
Before an employee is hired, there are certain things to be considered when going through the hiring process, which generally encompasses the understanding of employment laws, conducting interviews, and making a hiring decision. Here we highlight the key issues an employer should bear in mind when hiring employees in Malaysia:
- Understand the Summary Of Employment Laws in Malaysia;
- Get to know the Passes Requirements in Malaysia, and Visa Requirements in Malaysia;
- Conduct interviews; and
- Make the hiring decision.
Hiring process is part of the important elements in human resources management. Another key element that worth mentioning is the employee retention, where it always involves employee benefits (or what some companies would call ‘perks’). Time has changed and employee benefits have now evolved to be beyond just cash value. Employees now look for perks that put a little bit of ease to their working lives, as well as the retirement planning.
Employee Provident Fund (EPF), Monthly Tax Deductions (PCB) and SOCSO
In Malaysia, Employees Provident Fund Act 1991 (Act 452) provides retirement benefits for members through management of their savings in an efficient and reliable manner. In addition to this, Employee Provident Fund (EPF) also provides a convenient framework for employers to meet their statutory payroll contributions and moral obligations to their employees. Besides the mandatory EPF’s contribution, every employee in Malaysia will also have a SOCSO account that aims to provide social security protections to all employees.
Now, let’s have a closer look at how EPF, SOCSO, PCB works in Malaysia with the following information:
- EPF Account Registration – A Guide to Registering EPF Accounts for Employers
- SOCSO Account Registration – An Employer’s Guide
- SOCSO Contribution Table & Rates
- What is iPERKESO?
- When & How to Pay SOCSO (PERKESO) Payments?
- How to Register & Submit Monthly Tax Deductions (PCB) in Malaysia
Other than the aforementioned perks that you can provide at your workplace, as an employer, you might want to know about Employment Insurance Scheme (EIS) in Malaysia and Employment Insurance System (EIS) Account Registration in Malaysia that will give you employees another form of employee benefit. You may also interest to know the benefit and risk of fixed term contracts in malaysia.
If you ever have any inquiries about human resource management, please don’t hesitate a second before reaching out to us!
A snapshot of what you will be getting from here: