Director Fee Subject To Epf Socso And Pcb

However the following payments are not considered as wages.

Director fee subject to epf socso and pcb. Epf contribution rates. Wages not subject to socso contribution. Bonus 2008 is paid in the year 2008 mtd computation for step a under bonus formula should be based on current month remuneration for the respective year and by using the respective mtd schedule for that year as follows. If additional remuneration is paid in the same year e g.

Service charge any money or payment either in the form of a service charge a service fee a tip or other payments which has been paid by charged on collected from or voluntarily given by a customer or any other person who is not the employer with respect to the employer s business. All payments made to an employee paid at an hourly rate daily rate weekly rate piece or task rate is considered as wages. Wages subject to socso contribution. Foreigners faqs on company incorporation in m sia.

All renumeration or wages stated below and payable to staff workers are subject to socso contributions. Remuneration that subject to employees provident fund epf socso eis. An employee received bonus and director s fee in and for year 2008. The define of ceo managing director executive non executive shareholder.

Subject to the provisions of section 52 every employee and every employer of a person who is an employee within the meaning of this act shall be liable to pay monthly contributions on the amount of wages at the rate respectively set out in the third schedule. On the same month he receives a bonus amounting to rm3 700 epf deduction. Employers are legally required to contribute epf for all payments of wages paid to the employees. Among the payments that are exempted from epf contribution.

Rm407 compute pcb januari for en. Foreigners owned sole prop partnerships plt vs sdn. Salary wages full part time monthly hourly overtime payments commission paid. Rate of contributions the current rates are 11 for the employee and 12 for the employer but employers are advised to keep abreast with changes which may take place from time to time.

Companies act 2016 summary type of industries in m sia. In january 2010 his salary increase to rm 3 700 epf. In general all monetary payments that are meant to be wages are subject to epf contribution. Gifts includes cash payments for holidays like hari raya christmas etc read more about.

Year 2008 en ali received arrears salary of rm 1 200 epf.