What Is Employment Insurance Scheme

It acts as a social safety net to provide financial help and assistance for workers who are in the midst of looking for a new job. It is a financial scheme aimed at helping employees who lost their jobs until they find new employment. The new employment insurance scheme by socso hence to protect employees who face risk of retrenchment the malaysian government launched an employment insurance scheme on 27 october this year.

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The contributions are being collected in a fund in order to provide financial assistance to retrenched employees.

What is employment insurance scheme. First introduced in 2018 the employment insurance system eis is a scheme that offers you unemployment benefits and job search assistance should you lose your job for reasons like retrenchment redundancy and so on. Eis aims to provide employment insurance public employment services and labor market information lmi to the malaysian workforce. Employment insurance system eis welcome to the employment insurance system eis homepage. The insurance scheme which will be administered by the social security organisation socso seeks to provide temporary financial assistance for up to six months to workers who are retrenched.

Please continue reading to see how we can assist you. It is a compulsory government scheme that covers all private sector employees automatically with employers and employees each contributing 0 2 of the employee s salary every month. Employment insurance ei is an unemployment insurance program in canada that allows individuals who have recently lost a job to receive temporary financial assistance. The employment insurance system eis was first implemented in january 2018 by perkeso.

If you are an eis contributor who recently lost your job you may be eligible to receive benefits. According to pm najib the eis is a financial scheme aimed at helping employees who have lost their job.