Reminder on the LOST of Human Resource Development Fund

Section 25 of the Pembangunan Sumber Manusia Berhad Act, 2001 states that an employer shall lose his eligibility to receive any financial assistance or other benefits under the Human Resources Development Fund (HRDF) if they do not make any claims within the stipulated period as determined by the Board. In this regard, the stipulated period as determined by the Board is five years and will be effective from 1 January 2002 to 31 December 2006 . 

Levy paid for the 5-year period, effective from 1 January 2002 (including levy paid before 1 January 2002) would be forfeited if employers do not make claims for financial assistance or other benefits within the 5-year period, effective from 1 January 2002. This 5-year period will subsequently continues, i.e. from 1 January 2003 to 31 December 2007 , 1 January 2004 to 31 December 2008 , 1 January 2005 to 31 December 2009 and so on. 

To avoid levy paid by employers from being forfeited after the lapse of the 5-year period, employers are requested to apply for financial assistance and submit claims before 31 December 2006. Failure to do so will only result in the entire levy balances in employers’ accounts on or before 31 December 2006 be forfeited on 1 January 2007.

Employers who have not make any claims from PSMB and only apply for financial assistance, the last date for them to submit claims is 31 December 2006 and not 30 June 2007.

Please Logon to www.hrdnet.com.my  or contact the Human Resource Development Council for further clarification. (Tel : 03-2098 4800、Fax : 03-2093 5722)。The MKMA secretariat is always available to cater and tailor made courses according to the needs of your company.

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