RM0.00

Breakdown of Payroll & Tax Contribution Amounts

RM0.00
RM0.00
RM0.00
RM0.00
RM0.00
RM0.00
RM0.00
RM0.00
RM0.00
Calculate Clear
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 SOCSO?

 

The Social Security Organization (SOCSO), also known as PERKESO, provides social security protections for employees in Malaysia. 

SOCSO contributions are mandatory for some employees and employers, aimed at providing financial assistance in the event of work-related injuries, disabilities, illnesses, or death. 

 

How Can a SOCSO Calculator Help?

 

A SOCSO calculator gives you a quick estimate of your total contributions (employer & employee) and helps visualize how rates vary by age or salary. 

 

How to Use a SOCSO Calculator?

 

    1. Enter your gross monthly salary.
    2. Select your Age Group and Residential Status.
    3. Click “Calculate.
    4. View the respective Employee and Employer SOCSO contributions. 
    5. You’re done!

 

What are the current SOCSO contribution rates?

 

Contribution rates are split between employers and employees, and they may vary depending on two key factors:

    • Employee’s Age: There are generally two contribution categories based on employee age:
      • Below 60 Years Old: This category applies to the Employment Injury and Invalidity Scheme.
      • 60 Years Old and Above: This category applies to the Employment Injury Scheme only.
    • Employee’s Salary: In some cases, the contribution rate might be capped based on a specific monthly salary limit.

 

For more information, check out our article on contribution rates for SOCSO or learn more about payments that are subjected to SOCSO and EIS contributions.

 

Stop Wasting Time on Manual SOCSO Calculations – Automate with PayrollPanda!

 

While this calculator helps with one-time calculations, managing payroll for an entire company can be time-consuming and prone to errors. PayrollPanda simplifies the payroll process for you, ensuring no more manual calculations and accurate SOCSO contributions every time. If you’re looking for a FREE EIS calculator or FREE EPF calculator, we have that too! 

Payroll items with statutory calculations

Comprehensive Payroll Processing 

 

Manage your entire payroll process from a single platform. PayrollPanda handles salary calculations, deductions, payslips, and more, reducing your workload.

 

Compliance Guarantee 

 

Stay compliant with all Malaysian labour laws and regulations, including SOCSO contributions. PayrollPanda ensures accurate and timely contributions for your employees.

 

Get Started Today!

 

Experience the convenience and efficiency of PayrollPanda for your SOCSO calculations and payroll needs. Sign up for a Free Trial today and take the hassle out of payroll management!

Keep compliant with PayrollPanda

FAQs

Some frequently asked questions...

SOCSO contributions should be paid by the employer by the 15th of the following month. For example, contributions for January should be paid by February 15th.

The easiest way to calculate SOCSO contributions is to use a payroll software or online calculator, such as PayrollPanda. These tools allow you to automate the entire payroll process, including calculating SOCSO contributions for your employees.

All Malaysian employees, including foreign workers with valid work permits, are covered by SOCSO. Certain categories of employees, such as domestic workers and civil servants, are also included.

Yes, part-time employees are also required to contribute to SOCSO based on their monthly salary. The contribution rates for part-time employees are the same as for full-time employees, based on their salary bracket.

No, employees in Malaysia cannot opt out of SOCSO coverage. It is mandatory for all Malaysian employees, including foreign workers with valid work permits, to be covered under the Social Security Organization (SOCSO).

Streamline your payroll for FREE!

Use PayrollPanda for free for 30 Days! No obligations, no credit card details required.

Get started

Copyright © 2023 Payroll Panda Sdn Bhd. All Rights Reserved.