Income Tax MTD/PCB Calculations + EPF & SOCSO Contributions & Claims (Latest Updates) by Pagadala Cyril Papiah
Date: 18 & 19 February 2019 (Monday & Tuesday)
Time: 9:00am to 5:00pm
Venue: Hotel Melia Kuala Lumpur (Across From Berjaya Times Square)
The EPF Act 1991 is a retirement scheme for employees. The SOCSO Act 1969 is an insurance scheme for Malaysian employees for employment injury or invalidity. Both employer and employee are required by law to contribute to EPF and SOCSO. Both schemes have benefits for employees and there are rules on how to avail of them.

The Monthly Tax Deduction (MTD) scheme is a compulsory pay-as-you-earn (PAYE) scheme whereby employers are required to deduct employees’ tax on a monthly basis using the schedule, formula, approved vendor software or e-calculator methods.    
This workshop describes the wages / remuneration for which there should be deduction and contribution for SOCSO, EPF and MTD; and also describes the benefits under SOCSO and EPF. Other employee tax issues are also discussed.

It also demonstrates how the MTD is computed using the manual formula method so that the participant is able to explain to other employees the process; and answer the golden question: ‘why does MTD vary from month to month?’.

At the end of the workshop, participants are able to:

• Complete documentation for EPF, SOCSO  and Income Tax 
• Identify wages and remuneration for SOCSO and EPF contribution; and the conditions to avail of them.
• Compute MTD / PCB deductions and contributions using the schedule and formula methods
• Compute VOLA and value of benefits –in-kind (BIK) and perks for income tax using the prescribed value and formula methods 
• Compute tax for gratuity and compensation payments
• Compute tax for non-residents and those on secondment and regional offices under the Double Taxation Agreement (DTA)  
• Prepare the EA form correctly
Program Content:
1) EPF: Contributions & Deductions
• Who must contribute?
• Definition of wages for EPF contributions
• Rate of contributions under Parts A, B, C, D
• Rate of contribution by non-citizens & employers
• Rate of contribution for employees below and above 60 years of age
• Maximum age for contribution
• Documentation
2) EPF: Benefits & Claims
• Withdrawal on reaching 50 & 55 & 60 years of age and for other reasons  
• Re-contribution to EPF after full withdrawal
• Full and partial and periodic withdrawals
• Additional payments for death and permanent disablement
• Maximum age for withdrawal       

3) SOCSO: Contributions & Deductions
• Who needs to contribute and under what categories?
• Definition of wages for SOCSO  
• Penalties for non-contribution
• Who is responsible for contribution?
• Maximum ages of contribution under Employment Injury Scheme and Invalidity Schemes   
• Documentation

4) SOCSO: Benefits & Claims
• Temporary and Permanent Disablement Benefit
• Total and Partial Disablement
• Occupational Diseases
• Invalidity Grant
• Pension Schemes
• Contribution qualification for benefit
• Survivors’ / dependents’ pension
• Constant Attendance Allowance
• Medical Benefit
• Funeral Benefit
• Education Benefit
• Accidents while traveling
• Procedures in claims

5) Income Tax Remuneration
• Definition of wages for income tax deductions
• Minimum income level for income tax deduction
• Normal vs additional remuneration

• Using the schedule and formula methods to compute MTD/ PCB
• Compulsory and optional deductions
• Rebates after tax 
• Date of contribution
• Deductions for previous years

7)Tax Treatment for Gratuity and Compensation Payments
• Definition of gratuity and compensation
• Conditions for Tax free gratuity ad compensation
• Rate of tax for qualified  

8)) Benefits-in-kind and Perks & Others
• What are benefits-in-kind and perks
• Formula and prescribed value methods of determining values for VOLA and perks
• Double Taxation Agreement
• Employees on secondment
• Employees in Regional Offices

9)Preparing the EA Form & Other Documentation 
• Exemptions from tax
• Salary and allowances
• CP38  
• Other documentation

Presentations, discussions, workshop exercises, case-studies
Who Must Attend:
• Paymasters
• Payroll Executives
• Payroll Administrators
• HR Executives 
Investment Fees:
RM1,888.00 per participant (Standard Fee)
RM1,588.00 per participant (Early Bird Fee, register by 11 February 2019)

Group incentive: Register 3 participants from the same organization, the 4th participant is FREE. (Buy 3 Get 1 Free)
There are 3 methods to register for this training:
  1. Kindly click here for online registration. Register Now.
  2. Kindly download this registration form, and fill up all the particulars. Please fax back to +6-03-6270-9993. Click here to download Registration Form (177KB).
  3. Call us to register. Tel: +6-03-6270-9883.
This Training Programme is SBL Claimable *Subject to PSMB conditions.

Pembangunan Sumber Manusia Berhad (PSMB)We Are An Approved Training Provider Under SBL Scheme With Pembangunan Sumber Manusia Berhad (PSMB/HRDF)