Image source: SOCSO
As announced by PM Mahiaddin Yassin, the PSU 3.0 Wage Subsidy Program will continue for 2021. This time around, regardless of sector, the wage subsidy of RM600 for each employee earning below RM4,000 (not the case anymore!). In addition, the wage subsidy limit of 200 employees for each employer will be increased to 500 employees.
Previously, only the specified sector was eligible to apply for PSU. However, due to the MCO 2.0, this condition has been relaxed.
- For the tourism and retail sector, PSU 3.0 comes into force on January 1, 2021.
- For PSU PERMAI involves all sectors in the state involved with MCO effective 19 January 2021.
Then, when the PM introduced the Program Strategik Memperkasa Rakyat dan Ekonomi Tambahan (PEMERKASA & PEMERKASA+), the deadline for PSU 3.0 application is extended from 30 June to 31 July 2021.
Image source: SOCSO
Recently, the PM and SOCSO has decided to revise the PSU 4.0 starting from 1 August for a period of 4 months. In this initiative:
- The first 2 months is open for all sectors
- The remaining 2 months is specifically only for sectors that are under a negative list at that time
- Also, open for all employees earning more than RM4,000 a month
So, what are the requirements for the PSU 4.0 application?
- Local workers earning below and above RM4,000 (there’s no salary limit)
- Limited to 500 employees per company)
- Employers and employees contribute to SOCSO on the date before 1 January 2021.
- Registered with the Companies Commission of Malaysia (SSM)
- Retain all employees who are considered to receive this wage subsidy
Other IMPORTANT things you need to know to qualify for PSU 4.0...
- All employers are required to include this subsidy information in their employees’ payslip
- The list of related sector activities has been detailed in www.myfuturejobs.gov.my.
Emm, who are not qualified for PSU 4.0?
- Employers and employees who have not registered or contributed with SOCSO before 1 January 2021;
- Employer or company that registers SSM/ROS/ROB/PBT or other establishments and operating on or after 1 January 2021;
- Employers who have not registered with the Inland Revenue Board;
- Employers who are not from the tourism and retail sectors except employers operating in states involved with PKP;
- Employees who have been laid off;
- Employees currently employed under the Generator Incentive program Career (Hiring Incentive);
- Public sector employees, federal and state statutory bodies, all statutory body remunerated remuneration, Local Authority (PBT) and those who are self-employed (have no employer);
- Foreign workers and expatriates; and
- Employers who withdraw from PSU 4.0 application after application approved by SOCSO
And, how to apply & when is the deadline?
Okay, each application must be submitted online. But, also can if you wanna submit to any SOCSO office (eh, stay home can onot?). Take note that this needs to be done by the employer on behalf of the employee involved - go nudge your boss k because your employer is responsible for distributing the RM600 payment to you (the affected employee).
Your employer must submit a complete application through prihatin.perkeso.gov.my and attached the mandatory documents:
- List of employee names (according to enterprise size eligibility limit);
- Employer's bank account information (copy of the front page of bank statement only);
- Business Registration Number (BRN) information registered by the employer during the bank account opening as in 5 (ii) above. Please refer 5 banks and ensure BRN No and Account No is accurate to avoid any inconvenience;
- Copy of registration of SSM / ROS / ROB / PBT or other organizations;
- PSU 4.0 Declaration; and
- For enterprises of 76 employees and above shall submit supporting documents such as financial statements or sales report that has been verified by management or other related documents
The PSU 4.0 applications will start from 1 August 2021.
Employees can check the list of employers' names that have been approved for PSU applications on the SOCSO website.
Go forth and claim that RM600, it’s a trying time indeed...
So far, these are pieces of information that we can gather. If you know anything, don't hesitate to nudge us and we’ll include the info shared in this article.
Oh, you can also get more information on SOCSO’s site. Or if that’s not helping, please call its Customer Service Line, 1-300-22-8000, submit your inquiry via email to firstname.lastname@example.org OR submit a complaint/inquiry via SOCSO Facebook.
*The above article is intended for informational purposes only. Loanstreet accepts no responsibility for loss that may arise from reliance on information contained in the articles.