Angola
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Malaysia
MALAYSIA
Employer of Record
EMPLOYER OF RECORD
Employ is a trusted provider of Employer of Record (EOR) solutions for businesses looking to expand in the Asia Pacific, Africa, Europe, and America, covering end-to-end employment services for the remote workforce. We specialize in Outsourced Payroll Services, Remote Staffing, and Visa Services. In addition, we bring a centralized approach to HR management, Payroll & Benefits, and Legal Compliance wherever your staff may be.
32.9 MILLION
total population in 2021
440 USD Billion
expected GDP in 2023
Malaysia’s successful diversification of its economy made it a major exporter of electrical appliances, spare parts, and components. Almost 40% of Malaysia’s jobs are connected to export industries with a highly-trained IT and manufacturing services workforce. The country’s openness to trade and investment has played a role in job creation and income growth. Malaysia’s economy has been growing at a rate of 5.4 percent on average since 2010. It aims to shift from an upper-middle-income to a high-income economy by 2024. It moves closer to becoming a high-income economy. Malaysia’s incremental growth will rely less on factor accumulation and more on increasing productivity to maintain potential growth. The country’s GDP is projected to trend around 380 USD Billion in 2022.
PUBLIC HOLIDAYS: 13
- New Year’s Day – January 1
- Federal Territory Day – February 1 (selected regions only)
- Chinese New Year – varies
- Awal Muharram – varies
- Labor Day – May 1
- Hari Raya Puasa – varies
- Wesak Day – varies
- King’s Birthday – June 5
- Hari Raya Haji – varies
- Merdeka Day – August 31
- Mauludir Rasul – varies
- Deepavali – varies
- Christmas Day – December 25
SOCIAL SECURITY AND TAXATION
Employees’ Provident Fund (EPF)
- Employer Contribution: 12%
- Employee Contribution: 11%
Social Security Organisation (SOCSO)
- Employer Contribution: MYR 69.05 (max)
- Employee Contribution: MYR 19.75 (max)
Employment Insurance System (EIS)
- 0.2% of employees’ wage
- MYR 7.90 (max)
- Income Tax Rate: 0-30%
MINIMUM WAGE
1200 Malaysian Ringgit
WORK HOURS
40-48 hours per week
OVERTIME RATE
150% of the normal rate
PROBATIONARY PERIOD
3 to 12 months (based on contract)
ANNUAL LEAVE CREDITS
8-16 days (based on tenure)
MATERNITY LEAVE
60 days (paid)
PATERNITY LEAVE
2 days
SICK LEAVE
14-22 days (based on tenure)
BONUSES
not mandated by law (depends on the discretion of the employer)
*Info is not binding, may vary, and is provided only as an indication.
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