Basic Salary In Malaysia 2017

Say you are earning a rm40 000 per year salary you have a rm2 000 local bank interest income as well as rm13 000 from property rental income a year.

Basic salary in malaysia 2017. This is good news as it has risen by 8 from 2016. Salaries vary drastically between different careers. Salaries range from 1 670 myr lowest average to 29 400 myr highest average actual maximum salary is higher. Personal interviewing approach was used for a period of twelve months starting from may 2016 until april 2017.

Well according to the latest salaries wages survey report released by the department of statistics malaysia the average salary for malaysians is rm2 880 per month in 2017. In 2019 mean income in malaysia was rm7 901 while malaysia s median income recorded at rm5 873. A person working in malaysia typically earns around 6 590 myr per month. For employees who receive wages salary exceeding rm5 000 the employee s contribution of 11 remains while the employer s contribution is 12.

The minimum employers share of epf statutory contribution rate for employees above age 60 who are liable to contribute will be reduced to four 4 per cent per month while the employees share of contribution rate will be zero per cent. Despite optimistic projections 2019 meted out market uncertainties that had some industries bracing for impact. This page provides malaysia minimum wages actual values historical data forecast chart statistics economic calendar and news. Malaysia salary guide 2017 report for a human resources specialist in search of staff to hire or a professional in transition to a new job knowing about the malaysian job market and what salaries to expect for certain levels of qualification and diplomas will come in handy.

Let s take into account the standard rm9 000 individual tax relief as well as a maximum relief of rm6 000 for epf contributions. The department of statistics malaysia has conducted household income and basic amenities survey his ba in 2016 and 2017 to collect data on the characteristics of malaysian household particularly on income and basic amenities. Moreover mean income rose at 4 2 per cent in 2019. Minimum wages in malaysia averaged 1000 myr month from 2013 until 2020 reaching an all time high of 1200 myr month in 2020 and a record low of 900 myr month in 2014.

In terms of growth median income in malaysia grew by 3 9 per cent per year in 2019 as compared to 6 6 per cent in 2016. Marked by continued digital innovation and a slowing global economy 2020 is expected to be a period of measured hiring and compensation where candidates must prove their worth and companies must match growing expectations to attract and retain them. This is the average monthly salary including housing transport and other benefits.