About 4.8 million workers from small and medium enterprises (SMEs) will benefit from the government’s wage subsidy programme, which was increased from RM7.9bil to RM13.8bil.
Prime Minister Tan Sri Muhyiddin Yassin, who announced the special SME stimulus package on Monday (April 6), said all employees with a salary below RM4,000 a month will benefit from the wage subsidy programme.
The old wage subsidy was RM600 per staff member with a salary below RM4000 a month.
With the new revised wage subsidy, companies with 200 staff members and above will be eligible for a RM600 wage subsidy, while companies that employ between 76 and 200 employees will receive RM800 for each worker.
Companies that employ between one and 75 employees will receive RM1,200 for each worker.
This salary subsidy is offered for 3 months and is eligible to companies that have registered with the Companies Commission of Malaysia (SSM) or local authorities before 1 January 2020. Additionally, these companies must also be registered with the Social Security Organization (SOCSO).
Muhyiddin also states that employers who are planning to take up this subsidy offer are required to retain their employees for at least 6 months. This includes within 3 months of receiving the salary subsidy and 3 months after that.
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