Wage Subsidy Programme 2.0 (WSP) application is now open to employers until 31st December 2020.

Overview:

Wage Subsidy Programme 2.0 (WSP) application is now open to employers until 31st December 2020.

Key Takeaway:

You will understand:

·         What is Wage Subsidy Programme?

·         Difference between WSP and WSP2.0

·         What is the subsidy rate?

·         Who is eligible for the scheme?

·         How to apply?

·         Documents required when applying for WSP2.0

·         How can employers prove that their sales/revenue have decreased by at least 30%?

·         How can employers check their application status?

Summary of Learning

1.     What is Wage Subsidy Programme?

Wage Subsidy Programme (WSP) and Wage Subsidy Programme 2.0 (WSP2.0) are financial assistance programme paid to employers for all local employee earning RM4,000 or less.

It aims to support affected businesses by the economic impact of the COVID-19 crisis as well as prevent workers from losing their job and source of income.

2.     Difference between WSP and WSP 2.0.

Applications for WSP began on 1 April and ends on 30 September 2020.

On the 23rd of September 2020, the Prime Minister announced that the WSP will be extended for an additional 3 months for existing employers currently receiving it; while businesses that have yet to apply for WSP may receive 6 months of aid in total. This program is known as WSP 2.0

3.     What is the subsidy rate?

Current WSP Recipients:         

RM600 per employee per month for 3 months.

New Applicant:                       

RM600 per employee per month for 6 months.

 

4.     Who is eligible for the scheme?

·         Employers and employees registered with and contributed to SOCSO prior to 1st September 2020

·         Employers should have registered with the Companies Commission of Malaysia (SSM) or the relevant local authority prior to 1st September 2020

·         Business sales or revenue has decreased by at least 30% year-on-year (from 2019-2020) after the implementation of the Recovery Movement Control Order (RMCO)

·         Employees earning RM 4000 or less.

Other Condition:

·         Employers are forbidden from retrenching all employees earning RM4000 or less.

 

5.     How to apply?

·         Employers may apply on prihatin.perkeso.gov.my

6.     Documents required when applying for WSP2.0

·         Names of eligible employees (based on the size of the company)

·         The employer’s bank account information (copy of first page of the bank statement)

·         The Business Registration Number (BRN) used to open the company bank account

·         A copy of SSM/ROS/ROB/relevant local authority registration certificate;

·         The WSP2.0 declaration form

7.     How can employers prove that their sales/revenue have decreased by at least 30%?

Employers may provide concrete monthly sales figures when applying on prihatin.perkeso.gov.my. The figures should show that sales or revenue in a certain month decreased by at least 30% compared to the same month in the previous year after the RMCO.

8.     How can employers check their application status?

·         Employers will receive a reference number after they completed their application on prohatin.perkeso.gov.my. They may check their application status by entering their reference number.

·         A list of approved employers (including the number of employees approved) may also be found on website http://eiscentre.perkeso.gov.my/

Visit us www.ktp.com.my

WSP2.0

WSP2.0

 
 
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