270 Late contribution interest

Late contribution interest

An employer who fails to pay contributions within the period specified shall be liable to pay interest as specified under regulation 33 of the Employees Social Security (General) Regulations, 1971. Interest payable will be calculated at the rate of 6% per annum in respect of each day of default or delay beyond the end of such period, being minimum payable at RM5.


BCS 202/05 Corporate Compliance Management Copyright © 2011 by Wawasan Open University. All Rights Reserved.


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