Employee Benefit Insurance Malaysia: Enhancing Workforce Well-being and Productivity
Employee benefit insurance in Malaysia refers to insurance policies that provide financial protection and various benefits to employees, ensuring their well-being and enhancing their productivity. One prominent example is the Employees’ Provident Fund (EPF), a mandatory social security scheme where both employees and employers contribute a portion of their salaries. The EPF serves as a retirement savings plan, providing employees with a lump sum payment upon retirement, withdrawal, or other specified events.