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Wage Subsidy Program 2.0 (PSU) - Coggle Diagram
Wage Subsidy Program 2.0 (PSU
)
Introduction
Under the PRIHATIN economic stimulus package announced on the 27th of March 2020
PSU subsidised wages for 3 months.
Aims to support affected businesses by the economic impact of the COVID-19 crisis.
Aims to prevent workers from losing their jobs and source of income
Financial assistance programs paid to employers for all local employees earning
Under the PENJANA national economic recovery plan announced on the 5th of June,
PSU was extended for an additional 3 months.
How to apply?
Application date is open on 1 October 2020 and must be submitted by 31 December 2020.
Required documents for application
Business registration Number (BRN) used to open the company bank account
A copy of SSM/ROS/ROB/ relevant local authority registration certificate
PSU 2.0 Declaration form
Names of eligible employees (Based on the size of the company)
The employer's bank account information.(Copy of first of the bank statement.
Employers may apply and check their application status on prihatin.perkeso.gov.my
Payment works
Payment are not made based on the number of individual branches with different employer codes
Employers must pay SOCSO and EIS contributions when salaries are paid
each month as usual on employees behalf.
Based on a company’s SSM / ROS / ROB / trading
license / registration with professional regulatory body.
The number of employees who eligible to receive the payment will be determined based on the company registration with professional regulatory body.
Eligibility
Company size
75 or fewer
employees
Subsidy can be claim for 75 pax
76 - 200 employees
Subsidy can be claimed for 200 pax
201 or more
employees
Subsidy can be claimed for 200 pax=
Employer
Decreased in sales or reveneu
Business sales / revenue have decreased at least 30 % year-on-year (2019-2020) after the implementation of the recovery movement control order (RMCO)
Registered
with SOCSO
Registered with and contributed to
SOCSO prior to 1 September 2020.
Registered with the Companies Commission of Malaysia ( SSM) or the relevant local authority prior to 1 September 2020.
Employee
Registered with and contributed to SOCSO prior to 1 September 2020.
Earning is RM4,000 or less
Other condition
Employer allowed to reduce working hours or wages if their workers agree after negotiation
Employer are forbidden from retrenching all employees earning RM4,000 or less.
Benefits
Subsidy rates
New applicants
RM600 per employee per month for 6 months
Current PSU recipients
RM600 per employee per months for 3 months