Helios Advisory

17/08/2025

📌 EPF Account 3: What You Need to Know

👛 Account 1 – Retirement Savings

75% of your monthly contribution

Locked until retirement (except special schemes)

Main purpose: Long-term retirement security

🏠 Account 2 – Pre-retirement Needs

15% of your contribution

Can be withdrawn for:
✔️ Housing 🏡
✔️ Education 🎓
✔️ Medical expenses 🏥
✔️ Hajj ✈️

💳 Account 3 – Flexible Account

10% of your contribution

Withdraw anytime, for any reason — no restrictions

Provides financial flexibility for short-term needs

⚡ How to Withdraw from Account 3?
1️⃣ Log in to EPF i-Akaun (website or app)
2️⃣ Select Withdrawal → Account 3 (Flexible Account)
3️⃣ Enter withdrawal amount
4️⃣ Funds will be credited to your bank account 🏦

💡 Tip: Account 3 is a safety net for urgent or unexpected expenses. Use it wisely, so your future retirement funds remain secure.

16/08/2025

✨ Did you know? SOCSO (PERKESO) protects employees in Malaysia with TWO main schemes! ✨

👷‍♂️ Employment Injury Scheme
✅ Covers:
• Workplace accidents
• Accidents while commuting to/from work
• Accidents during workplace emergencies
• Occupational diseases
✅ Benefits include: medical care, disability benefits, rehab, return-to-work program, dependents’ support, funeral & education benefits.

❤️ Invalidity Scheme (24-hour protection)
✅ Covers:
• Serious health conditions that prevent you from working/earning a living
✅ Benefits include: invalidity pension, survivors’ pension, funeral support, rehab, return-to-work & education benefits.

📌 Other things you should know:
• All employees must be registered with SOCSO (any age!)
• Contributions:
– Below 60: both schemes
– 60 & above: Employment Injury Scheme only
• SOCSO runs on the solidarity principle 💪 — everyone contributes to help those in need
• Employees aged 40+ can enjoy a FREE Health Screening Program (HSP) 🩺

👉 SOCSO isn’t just about protection — it’s about ensuring workers and their families are supported when they need it most. ❤️

15/08/2025

📢 SOCSO Update: Contribution Requirement for Foreign Workers Effective 1 July 2024🇲🇾

Starting 1 July 2024, employers are required to contribute both the employer’s and foreign worker’s share of SOCSO as follows:

1. Employment Injury Scheme & Invalidity Scheme
- Applicable to foreign workers contributing to PERKESO for the first time and below the age of 55 at the time of registration.

2. Employment Injury Scheme Only
- For foreign workers who are 55 years or older when first joining PERKESO.
- For foreign workers who have reached 60 years old and are still employed.

In summary:
From 1 July 2024 onwards, SOCSO contributions for foreign workers will follow the same structure as those for Malaysian citizens and permanent residents.

When updating an employee’s statutory profile (with Residence Type = Non-Malaysian), the following SOCSO options will be available—similar to locals:

- Not Applicable
- Employment Injury and Invalidity Scheme
- Employment Injury Scheme

15/08/2025

📢 Attention Employers:
In conjunction with the public holiday on September 16 (Malaysia Day), SOCSO has extended the deadline for August 2025 contributions to September 19, 2025.

Please ensure payments are made by the revised date to avoid penalties.

14/08/2025

📌 Real Property Gains Tax (RPGT) – What You Need to Know🏠

RPGT is a tax imposed by the Inland Revenue Board (IRB) on gains derived from the disposal of real property. It is governed under the Real Property Gains Tax Act 1976 (Act 169).

The tax is calculated based on the chargeable gain, which is the difference between the disposal price and the acquisition price of the property.

🔸 Disposal Price

The disposal price refers to the amount received from the sale of the asset, either in cash or equivalent monetary value, less the following:

- Costs incurred for upgrading or enhancing the asset’s value
- Costs incurred after acquisition to determine, maintain, or defend ownership rights
- Costs incurred in selling the asset (e.g. legal fees, agent fees)

🔸 Acquisition Price

The acquisition price is the amount paid or the value given to acquire the asset, including incidental costs of acquisition, less the following:

- Compensation received for any damage or injury to the asset
- Insurance payouts for damage, loss, destruction, or depreciation of the asset
- Any deposit forfeited related to a failed transfer of the asset

🔸 Rate of Tax

With affect from 1 January 2014 the rates of tax are as follows:

13/08/2025

📢 Important Reminder: Check Travel Restrictions Before You Fly

Before planning any overseas trip, remember to check your travel restriction status on the official Immigration Department website or the MyTax Portal.

The Inland Revenue Board (IRB) has emphasized that this is especially important for company directors holding at least 20% shareholding, as they may be subject to travel restrictions due to outstanding tax matters.

Stay informed and avoid unnecessary travel issues.

The deputy director general of the Revenue Collection Department at the Inland Revenue Board (IRB), Azaharuddin Mohd Ali, highlighted that many people do not realise unpaid taxes can lead to travel bans overseas.

13/08/2025

‼️SOCSO vs. EIS: Understanding the Differences Between Malaysia’s Social Security Schemes

In Malaysia, SOCSO (Social Security Organization) and EIS (Employment Insurance System) are both vital social security programs—but they serve different purposes and target different situations.

🦺SOCSO (Social Security Organization)

Purpose:
Provides financial and medical protection for employees in the event of work-related injuries, illnesses, disabilities, or death.

Coverage Includes:
- Medical benefits
- Employment injury benefits
- Rehabilitation services
- Invalidity pension

Eligibility:
- Mandatory for Malaysian employees and employers
- Foreign workers are covered under the Employment Injury Scheme (employer-funded only)

⛑EIS (Employment Insurance System)

Purpose:
Offers temporary financial aid and job placement support for employees who have lost their jobs involuntarily (e.g. retrenchment).

Coverage Includes:
- Job search allowance
- Reduced income allowance
- Re-employment and training programs

Eligibility:
- Applies only to Malaysian citizens
- Contributions are required from both employees and employers
- Foreign workers are not eligible

Summary:
While SOCSO offers broad protection for workplace-related issues, EIS provides short-term support for those who are unemployed. Employers must ensure compliance with both schemes depending on employee eligibility.

12/08/2025

📌 Important Tips: Difference Between Capital Allowances and Depreciation

Capital allowances are tax deductions granted for qualifying fixed assets, such as machinery used in business operations. They are used to reduce taxable income based on the wear and tear of these assets.

In contrast, depreciation allocates the cost of an asset over its useful life for accounting purpose and reflecting its reduction in value over time.

Key Point:
In Malaysia🇲🇾, depreciation is not tax-deductible. Instead, capital allowances serve as the tax relief mechanism for the cost of business assets.

04/08/2025

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04/08/2025

📢 Important Announcement from KWSP (EPF Malaysia)

Starting 1 October 2025, it will be compulsory for all employers to register and contribute to EPF (KWSP) for their non-Malaysian citizen employees, excluding permanent residents.

What Employers Need to Do:
✔ Register your non-Malaysian employees with EPF
✔ Start contributing to their EPF accounts from October 2025 onwards
✔ Ensure payroll systems are updated to reflect this change

Stay compliant and avoid penalties. For assistance with registration or payroll updates, feel free to contact us.


https://www.kwsp.gov.my/en/w/list-news/epf-expands-mandatory-contribution-to-non-malaysians
https://www.kwsp.gov.my/en/employer/responsibilities/non-malaysian-citizen-employees

Your guide to mandatory contribution for non-Malaysian citizen workers. Understand your role, legal duties, and how to contribute correctly as an employer.