Disclaimer: This calculator is offered for informational and reference purposes only. Calculations are not meant to supplant or serve as a substitute for professional guidance or official tax calculations provided by the Inland Revenue Board of Malaysia or other relevant authorities.
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.
Yes! PayrollPanda stays up-to-date with the latest EIS requirements and ensures your business makes accurate and timely contributions, keeping you compliant with Malaysian labor laws.
All employers and employees in Malaysia are required to contribute to the EIS scheme. This includes full-time, part-time, and contract employees.
Employees can apply for EIS benefits through the Social Security Organisation (SOCSO) website or at any SOCSO office. They will need to provide relevant documents such as their termination letter and identification documents.
Yes, foreign workers who are legally employed in Malaysia and have made contributions to the EIS scheme are eligible for EIS benefits.
EIS benefits are paid out to eligible employees who have lost their jobs involuntarily. The benefits include job search allowances, reduced income allowances, and retraining allowances.
