Disclaimer: The content of this article pertains to the altHR payroll module (not PayrollPanda). As of this date, the altHR payroll module has been discontinued as we form a new partnership with PayrollPanda to bring forth enhanced payroll solutions for our users.
What is EIS
The Employment Insurance System (EIS) also known as Act 800 or Akta 800, it is a financial scheme aimed at helping employees who lost their jobs until they find new employment. The contributions are being collected in a fund in order to provide financial assistance to retrenched employees.
Same with SOCSO, the contribution to EIS comes from both employer and employee - refer to the latest EIS (Akta 800) contribution rate table available @ SOCSO website . Admins can quickly manage employees’ EIS information via the Payroll > Compensation page.
To enable EIS contribution:
1. On the left panel of your admin dashboard, click Payroll > Compensation.
2. Search for the employee's name.
3. On the right, click View.
4. Click Statutory. You will be redirected to People > Compensation > Statutory Details.
5. Click Edit (Please note that if the employee has no prior statutory details entered before, the button will show as "Add")
6. Scroll down to update the information EIS Contribution. Tick the EIS Contribution to switch it on.
7. Confirm by clicking Confirm.