Yes, SOCSO contributions in Malaysia are typically shared between the employer and the employee. Both the employer and the employee make contributions to SOCSO, and these contributions are usually a percentage of the employee’s wages.
- Employer’s Contribution: Employers are responsible for deducting the employee’s share of the contribution from their wages and then adding their own portion to make the total contribution to SOCSO on behalf of the employee.
- Employee’s Contribution: A portion of the contribution is deducted from the employee’s salary, and this amount is then matched or supplemented by the employer’s contribution before being remitted to SOCSO.
The contributions made by both the employer and the employee serve as a form of social security to provide benefits and financial protection in the event of work-related injuries, disabilities, illnesses, or death.
The specific contribution rates for both the employer and the employee can vary based on factors such as the employee’s wages and the industry classification, and these rates may be subject to change according to government regulations.