In a live televised speech today (6th April 2020), Prime Minister Tan Sri Muhyiddin Yassin has announced that the government will increase the allocated budget of the existing Wage Subsidy Programme announced previously from RM 5.9 billion to RM 13.8 billion. According to his speech, the new Wage Subsidy Programme will now be broken down as follows according to the size of the company and number of employees:
- Wage subsidy of RM600 per employee for companies with 200 employees.
- Wage subsidy of RM800 per employee for companies with between 76 to 200 employees.
- Wage subsidy of RM1,200 per employee for companies with less than 75 employees.
Do note that these are only for employees with a salary no more than RM4,000 and the subsidy will last for 3 months.
In order to be eligible for this subsidy, companies will need to be registered with SSM, PERKESO, and PBT (Pihak Berkuasa Tempatan) before 1st January 2020.
Employers must also ensure that these employees who receive these wage subsidies be employed for 6 months starting from the 3 months of the Wage Subsidy Programme.
What do you guys think of these new changes?
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