The Wage Subsidy Programme aka (WSP) is a financial assistance programme to help employers continue their company operations during COVID-19 and prevent workers from losing their jobs and sources of income.
Through the programme, wage subsidies are paid to employers for each local employee earning RM4,000* and below for a period of 3 months only.
The WSP took effect on 1 April 2020 and is valid for a period of 3 months beginning 1st April or from the time an employer submits an application. The deadline for applying for the WSP is 15th September 2020.
The documents required for the WSP application are:
- List of employee names – sample below according to SOCSO format
- Employer’s bank account information (displayed bank statement first page cover only)
- The Business Registration Number (BRN) letter – the BRN information registered by the employer at the time of opening the bank account.
- Copy of SSM / ROS / ROB / professional, scientific or technical services/business license registration.
- PSU50 Declaration – sample as below
- Supporting documents** such as financial statements or sales reports that have been verified by management or other related documents. – only applicable for companies applying for more than 75 employees.
Once the above documents are ready you can then proceed to the online application via
Wage Subsidy Table for referrence:
Below are the application EXCEPTION CASE:
- Employers or companies registering and operating on or after January 1, 2020;
- Employers and employees who have not registered or contributed to SOCSO before April 1, 2020;
- Employees who have received the Employment Retention Programme (ERP) financial aid during the same month;
- If they are applying for an employee who is paid more than RM4,000 per month;
- If they are applying for retired employees;
- Public sector employees, federal and state statutory bodies, all statutory remuneration bodies, Local Authorities (Local Authorities) and self-employed (non-employers) including freelancers; as well as
- If they are applying for foreign workers and expatriates.
Hope the above helps with your preparations and submission exercise to Perkeso The Wage Subsidy Programme.