So, do you know what that Socso deduction in your payslip pays for?

The Social Security Organisation (Socso), also known as Perkeso, is a Malaysian government agency that provides financial assistance, medical care, and rehabilitation to eligible workers facing employment-related challenges. Unlike the Employees Provident Fund (EPF), which focuses on building retirement savings, Socso offers protection against employment accidents, occupational diseases, and permanent disability.

Socso contributions are a shared responsibility between employers and employees, with employers contributing a larger portion. The funds collected are used to finance various social protection schemes, including the Employment Injury Scheme, Invalidity Scheme, and the newer Non-Employment Injury Scheme, known as Lindung 24 Jam. These schemes provide medical benefits, temporary disablement benefits, and other forms of assistance to workers who suffer work-related injuries or illnesses.

Brief written by urgent.news from Malay Mail's own syndicated text. Machine-written — may contain errors; check the original before relying on it.