What is Wage Subsidy Program 3.0?
Wage Subsidy Program 3.0 (PSU 3.0) is a wage subsidy of up to RM600 per employee, which is enhanced to include all employers operating in MCO states regardless of sectors, from just employers in the tourism and retail sector under Budget 2021. The eligible amount are as follows:
- Current PSU Recipients (Tourism & Retail Sector):
- RM600 per employee per month for 3 months
- New Applicants (Tourism & Retail Sector):
- RM600 per employee per month for 6 months
- Current PSU Recipients & New Applicants (All economic sectors in MCO States):
- RM600 per employee per month for 1 month
What are the criteria required for the initiative?
- Decrease in Sales or Revenue : Businesses sales or revenue have decreased by at least 30% year-on-year (from 2019 to 2020) after the implementation of the Recovery Movement Control Order (RMCO)
- Registered with SOCSO: Employers and employees registered with and contributed to SOCSO prior to 1 January 2021
- Employers should have registered with the Companies Commission of Malaysia (SSM) or the relevant local authority prior to 1 January 2021
- Employee Wages : Employees earning RM4,000 or less
- Maximum Number of Eligible Employees : 500 Employees