This is to inform that there is a revision on Social Security Contribution rate with following details.
1) The revised rate is for payroll of Jun’21 – Aug’21
2) The new Employee Social Security contribution rate is 2.5% (the current rate is 5%)
3) The new Employer Social Security contribution rate is 2.5% (the current rate is 5%)
4) The capping of salary on the minimum and maximum amount is unchanged.
For any further information, please feel free to contact us if you have any question.