Welcome to our comprehensive salary calculator Malaysia, designed to help you calculate your net salary after deductions like EPF (KWSP), SOCSO, EIS, and income tax. Whether you're an employee or employer, understanding these deductions is crucial. Our calculator incorporates the latest information on the SOCSO contribution table, EIS contributions, and tax rates to provide accurate results.
What are SOCSO and EIS, and Why are They Important?
SOCSO, also known as PERKESO (Pertubuhan Keselamatan Sosial), is Malaysia's Social Security Organization. It provides social security protection to employees through social insurance, including medical and cash benefits, provision of artificial aids, and rehabilitation for employees who have accidents or diseases related to their work.
EIS, or the Employment Insurance System, is a financial safety net aimed at helping employees who have lost their jobs until they find new employment. It provides unemployment benefits, job search allowances, and training allowances.
SOCSO and EIS Contribution Details
The SOCSO contribution table outlines the amount that both employers and employees need to contribute monthly. Similarly, EIS contribution are mandatory for both employers and employees, calculated based on the employee's monthly wages.
- SOCSO Contributions: Contributions are divided into two categories:
- Employment Injury Scheme and Invalidity Scheme (Category 1)
- Employment Injury Scheme Only (Category 2)
- EIS Contributions: Both employer and employee contribute 0.2% each of the employee's monthly salary.
For the complete and most recent contribution rates, refer to the official SOCSO and EIS websites or our detailed guides on SOCSO contribution and EIS contribution.
How to Calculate Net Salary in Malaysia
Calculating your net salary involves several deductions from your gross salary:
- EPF (KWSP) Contributions: Typically, employees contribute 11% of their monthly salary to the Employees Provident Fund.
- SOCSO Contributions: Based on the SOCSO contribution table, both employer and employee contribute a specific amount.
- EIS Contributions: Both employer and employee contribute 0.2% each of the employee's monthly salary.
- Income Tax (PCB) Deductions: Calculated according to the progressive tax rates set by LHDN (Lembaga Hasil Dalam Negeri Malaysia).
Use our net salary calculator Malaysia to simplify this process. Just input your gross salary, and our calculator will automatically compute all deductions to show your take-home pay.
EPF (KWSP) Contribution Rates
The EPF calculator considers the standard contribution rates:
- Employee Contribution: 11%
- Employer Contribution: Varies based on salary and age
Stay updated with any changes in contribution rates by regularly checking the official EPF website or our updates.
Understanding Income Tax Rates in Malaysia
Malaysia employs a progressive tax system where the tax rate increases as your income increases. The income tax calculator Malaysia component of our tool uses the latest tax brackets to accurately calculate your monthly PCB (Potongan Cukai Bulanan) deductions.
For detailed information on the specific tax brackets and rates, please refer to the official LHDN website or our comprehensive guide on Malaysia income tax rates.
Additional Features
Our calculator isn't just a payroll calculator Malaysia (Kalkulator Gaji Malaysia); it offers additional functionalities:
- Bonus Calculator Malaysia: See how bonuses impact your net salary.
- Potongan Gaji: Understand all salary deductions, including EPF, SOCSO, EIS, and income tax.
Why Use Our Salary Calculator?
Our tool is designed with you in mind:
- Accuracy: Updated with the latest laws and rates.
- User-Friendly: Simple interface suitable for everyone.
- Comprehensive: Covers all aspects of salary calculation, including EPF, SOCSO, EIS, and income tax.
- Mobile Optimization: Access the calculator on-the-go with your mobile device.
Start Calculating Your Net Salary Today
Don't let complicated calculations hold you back. Use our salary calculator Malaysia to take control of your finances. Calculate your net salary after EPF, SOCSO, EIS, and income tax deductions effortlessly.
Click here to access the Salary Calculator