Social Security Organisation’s (SOCSO) chairman, Tan Sri Aseh Che Mat yesterday (12 March) revealed a total of 292,250 employers have registered for the Employment Insurance Scheme (EIS) – a social safety net for retrenched workers managed by SOCSO, The Star reported.
While speaking to media during a working visit to Wisma Perkeso Selangor, Tan added that since it took effect on 1 January, RM36.8 million have been collected for the scheme.
“As of now, 1,336 workers have benefited from EIS, with each of them receiving RM600 monthly as interim payments,” he said, adding that a total of RM990,000 was paid out to workers so far.
Currently, retrenched workers eligible for the scheme are given RM600 per month for three months as interim payment. Once the find matures in February 2019, workers can receive up to 90% of their last drawn salary for six months after they are retrenched.
He noted that the EIS will benefit about 6.6 million SOCSO contributors and has long been championed by workers’ unions as it acts as a social safety net for retrenched workers.
Reminder: EIS contributions must be paid before 15th of each month
Employers and staff expected to contribute RM479.5 million to EIS
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This article was first published in Human Resources Online Bulletin and is reproduced with permission. Original article can be found at http://www.humanresourcesonline.net