Employee Welfare Fund

     

Other than the effective date, the scheme remains unchanged. 

      

Thus, from 1 October 2026, companies having at least 10 employees will be required to register an Employee Welfare Fund, whereby the initial contribution rate for employer and employee will be 0.25 % of wages for the first five years. From 1 October 2031 onwards, the contributions will increase to 0.5 %.