What is EIS?
The Employment Insurance System (EIS), also known as Sistem Insurans Pekerjaan, was first implemented in Malaysia on January 2018 as a social safety net to give temporary financial support to employees who lost their jobs. Providing up to 6 months of financial assistance, this scheme is meant to help the retrenched workers get back on their feet during the hard times and job search purpose.
EIS is administered by Social Security Organization (SOCSO) and has taken effect on 1st January 2018 for contribution and interest payments on January 2019. Payment of contribution must not be later than 15th of the following month. The first monthly submission is on 15th February 2018. Failure to comply will result in penalty imposed on employers.
Find out more info from SOCSO