Proposed rate for EIS Bill to be slashed to 0.2% in October

PETALING JAYA: The contribution rate under the Employment Insurance System (EIS) Bill will be slashed from 0.5% to 0.2% when this goes back to Parliament in October.

Human Resources Minister Datuk Seri Richard Riot said a tripartite engagement on Aug 10 had agreed, among others, to propose a revision of the contribution rate from 0.5% each by employers and employees to 0.2%.