The new wage limit for Socso contribution kicks in today with it being raised from a monthly wage of RM5000 to RM6000, this would mean those who earn the higher amount will also have contribute to the safety net under the agency.
Previously, the cap was kept at RM5000 for salaried workers with anything above was not compulsory however with the addition the protection net has widen to cover more employees who could benefit from the government scheme.
This would also mean Socso accumulating more contributions from employees and employers, that is hoped to be used for good use.
