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As of 2012, the EPF functions by requiring a contribution of at least 11% of each member's monthly salary and storing it in a savings account, while the member's employer is obligated to additionally fund at least 12% of employee's salary to the savings at the same time (13% if salary is below RM5,000).
In the United Kingdom all employers, including self-employed persons, must register with HM Revenue and Customs. [1] In New Zealand, registration is made to the Inland Revenue. [2] In the United States, employers apply to the Internal Revenue Service to receive an Employer Identification Number. [3]
The SSM was formed in 2002 under the Companies Commission of Malaysia Act 2001, assuming the functions of the Registrar of Companies and Registry of Business. [1] The main purpose of SSM is to serve as an agency to incorporate companies and register businesses as well as to provide company and business information to the public.
The Ministry of Human Resources (Malay: Kementerian Sumber Manusia; Jawi: كمنترين سومبر مأنسي ), abbreviated KESUMA or MOHR, is a ministry of the Government of Malaysia that is responsible for skills development, labour, occupational safety and health, trade unions, industrial relations, industrial court, labour market information and analysis, social security.
When starting up, sole traders must complete a straightforward registration with HM Revenue and Customs as self-employed for tax and National Insurance purposes. They are responsible for maintaining the business's records and submitting an annual tax return for all income from self-employment and other work. [ 21 ]
Jobstreet is a Southeast Asian online employment website, operated by the Australian Stock Exchange-listed SEEK Limited. Founded in Malaysia in 1997, Jobstreet expanded its presence across the region and currently operates in Malaysia, Indonesia, the Philippines, and Singapore.
QuickBooks is an accounting software package developed and marketed by Intuit. First introduced in 1992, QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.
Self-employment provides work primarily for the founder of the business. The term entrepreneurship refers to all new businesses, including self-employment and businesses that never intend to grow big or become registered, but the term startup refers to new businesses that intend to provide work and income for more than the founders and intend to have employees and grow large.