What is EIS?
The Employment Insurance System (EIS) is a social security scheme implemented by the Malaysian government to provide financial assistance to employees who have lost their jobs involuntarily. EIS contributions are mandatory for employees and employers, aimed at providing income support and job search assistance.
What is an EIS calculator?
An EIS calculator is a tool that helps individuals and businesses calculate how much employers and employees need to contribute to Malaysia’s Employment Insurance System. It allows users to input information such as employee salaries for handy and quick estimates.
How to Use an EIS Calculator Effectively?
-
- Enter your gross monthly salary.
- Select your Age Group and Residential Status.
- Click “Calculate.“
- View the respective Employee and Employer EIS contributions.
- That’s it!
How are EIS Contributions Calculated?
The Employment Insurance System (EIS) contribution is calculated based on the employee’s monthly salary, up to a maximum salary cap set by the government. As of October 26, 2023, the EIS contribution rates were approximately 0.2% for employees and 0.35% for employers. Read more about contribution rates for EIS.
Looking for More Than an EIS Calculator?
Get more than just an EIS calculator with PayrollPanda! Our all-in-one LHDN-approved payroll software offers automated EIS calculations, along with a suite of features to simplify your payroll processes. We also offer a FREE SOCSO calculator and FREE EPF calculator for your convenience!
Simplified Payroll Management
Manage your entire payroll process in one user-friendly platform. PayrollPanda handles not only EIS deductions but also salary calculations, other deductions, payslips, and more.
Compliance with Malaysian Regulations
Avoid penalties and late fees. PayrollPanda guarantees accurate and timely deductions for your employees’ EIS contributions.
Ready to Simplify Your Payroll Process?
Get a free trial of PayrollPanda and experience the benefits of automated EIS calculations, payroll processing, and more!