Changes of Employees and Levy Rate for Optional Category Employers
Scenario
Category of Employer: Optional
Code : Class 2
Start date of contribution : January 2018
Levy Rate: 0.5%
- Based on the table above, employer has reached 10 employees in April 2018 and the levy rate immediately changed to 1%. The levy rate remained at 1% until the end of the current year (Based on the PSMB Act 2001 Section (15). (5)
- In January 2019, the number of employees is below 10 and the levy rate reduced to 0.5%
- The levy rate will be based on the total number of employees (Malaysian) declared during the Form 2 submission.
- However, for employers registered under COMPULSORY CATEGORY is MAINTAINED at 1% although the number of employees is reduced to less than 10 employees
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