KUALA LUMPUR, Dec 5 — The Social Security Organisation (Socso) plans to exempt small and medium enterprises (SMEs) from mandatory job vacancy reporting following amendments to the Employment Insurance System (SIP) Act.
Human Resources Minister Steven Sim said the exemption is contingent on stakeholder consultations, with Socso collaborating with employers and employees to finalise the details.
A two-year moratorium will precede enforcement of the amended provisions, assuring employers that no penalties will be imposed for failing to report vacancies during this period.
"The goal of the system is to ensure Malaysians have access to the latest jobs in the market, assist companies to match their vacancies to the talent pool, and to have accurate data of our labour market to craft better policies.
"The reporting process is simple, online and automated. The moratorium period will be used to assist and guide stakeholders to familiarise themselves with the system and improve where necessary,” he said in a statement today.
Sim added that the amended SIP Act also enhances benefits, providing higher unemployment allowances, a skills training subsidy and a mobility allowance for those who have lost their jobs.
On Tuesday (December 2), the Dewan Rakyat passed the SIP (Amendment) Bill 2025, which aims to improve the benefits for Socso contributors who become unemployed and to strengthen the governance of the insurance scheme's implementation.
