The Wage Subsidy Programme (PSU 5.0), which the Malaysian government implemented, is aimed to assist business owners or employers who are deeply affected by the COVID-19 pandemic, as well as the Movement Control Order (MCO). Our guide below discusses eligibility and how you can apply for it.
What is Program Subsidi Upah (PSU)?
Program Subsidi Upah (PSU) is financial assistance granted to each company’s employer for each local employee.
- It is aimed at employers in the tourism industry who have seen a drop in income of at least 30% of total sales or income.
- It is an RM600 monthly pay subsidy for each employee for a period of three months.
- Each claim is restricted to 500 employees.
Who is entitled to the PSU 5.0?
Employers and businesses in the tourism and related industries
For example, hotel operators, aircraft, travel agencies, money changers, and other similar businesses.
Appendix A contains a list of related industrial operations.
A decline in total sales or revenue of 30% or more in October / November / December 2021 compared to any month in 2019 /2020 /2021 previous to the outbreak of COVID-19.
Employers and their employees must be registered or contribute to SOCSO before January 1, 2023.
Required to register with the Companies Commission of Malaysia (SSM) or Local Authorities (PBT) before 1 January 2023.
What are the requirements for PSU 5.0?
- New applications – Must be submitted through the PSU Portal.
- Existing employers who are receiving or have received PSU 1.0, PSU 2.0, PSU 3.0, or PSU 4.0:
A fresh application for PSU 5.0 must be submitted on the PSU Portal since the conditions of PSU 5.0 vary from the previous PSU.
In the case of a change in the status of company activity or the number of eligible workers through the system, it is necessary to correct changes in information after receiving payment of claims in the following months. Failure to notify such changes by the employer may result in legal action.
What are the required documents to apply for PSU 5.0?
Among the necessary documents that you will need to prepare are the following: –
- Name list of employees (according to the eligibility requirements that have been set)
- Employer’s bank account details (copy of bank statement front page only)
- Information about the employer’s Business Registration Number (BRN) when opening a bank account. To avoid any trouble, please check the bank and confirm that the BRN No. and account No. are correct.
- Copies of SSM / ROS / ROB / PBT or other organizations’ registrations
- PSU Declaration 5.0
If you need further assistance submitting your application, feel free to contact us at Relin Consultants.
What is the closing date for the PSU 5.0 application?
The closing date is 31st March 2023
Who are the ones who are not eligible for PSU 5.0?
Employers and employees who are not registered or have not contributed with PERKESO after 1st January 2023.
If an employer is not under the eligible sector for PSU 5.0, can an appeal be submitted?
Yes, they can seek and file for an appeal at https://eaduansip.perkeso.gov.my/.