KUALA LUMPUR, March 1 — The Social Security Organisation (Socso) will provide an exemption for the Interest on Late Payment of Contributions (ILPC) for employers who have not registered with the organisation but registered between March 1 and June 30.

Its chief executive Datuk Seri Mohammed Azman Aziz Mohammed said the exemption was applicable to registration under the Employees’ Social Security Act 1969 (Act 4) and Employment Insurance System Act 2017 (Act 800), while employers who did not register within the period would be given a compound discount.

"In conjunction with Socso’s Golden Jubilee celebration, we are providing the incentives as an appreciation for the cooperation and support given by employers throughout the country, besides alleviating their financial burden in dealing with the Covid-19 pandemic.

"A total of 487,706 active employers are registered under Act 4 with 8.57 million workers receiving Socso’s protection and we have also expanded Act 4 coverage to foreign workers. Through the expansion, 1.6 million foreign workers have been registered so far,” he said in a statement today.

Mohammed Azman said employers who failed to register their company and workers within the stipulated period could face a fine of up to RM10,000 or imprisonment of up to two years or both.

"Besides that, a six per cent interest per year will be imposed on late payment on contributions. From 2010 until December 31, 2020, we have received 17,471 cases to be charged under Act 4 on various offences.

"I urge all eligible employers who have yet to register under both Acts to do so immediately via the ASSIST portal at www.perkeso.gov.my,” he said. — Bernama