Daily HR Update 22.10.2024

Business groups urge the government to delay EPF contributions for foreign workers or implement it in phases, citing financial strain on employers. FMM president Tan Sri Soh Thian Lai highlights that with 2.5 million foreign workers, the scheme could add RM6.6 billion annually to payroll costs. Combined with the RM1,700 minimum wage, businesses face RM17.4 billion in added costs, potentially threatening SME sustainability.

Source:https://www.thestar.com.my/news/nation/2024/10/22/delay-epf-scheme-for-foreign-workers-say-business-players