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Local company helps pay off employees PTPTN loans to keep them from job-hopping

Local company helps pay off employees PTPTN loans to keep them from job-hopping

Tasneem Nazari

With many millennials switching jobs frequently in search of better pay and nicer bosses, Hii Ding Sin found a great way to encourage his employees to stay put at his company.

“It is not easy to train employees. Even more so if you get good ones.”

Hii Ding Sin via Malay Mail

The managing director of Vector Infotech Sdn Bhd is helping his employees pay back their PTPTN loans.

That’s right.

Aside from paying their EPF and Socso, Vector Infotech offers its employees the benefit of PTPTN loan repayment!

“After the completion of their internship, they will be offered employment at my company and judging from their immediate superior’s feedback, the company will help them to repay their PTPTN loans.”

Hii Ding Sin via Malay Mail

Obviously, it’s not super simple and not all employees get this special benefit.

Only those who have shown to qualify based on their performance and gotten a recommendation by their head of departments will get this perk.

However, the company isn’t planning on being stingy with it.

“At the moment, we have helped three employees to repay their loans.”

Hii Ding Sin via Malay Mail

Hii Ding Sing added that his company, which currently employs 120 people, is able to help 12 more employees with their loans.

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Picture credit: Pinterest

FYI, PTPTN began the employer payment scheme under Budget 2019, which is valid until December 31 this year.

The scheme is a win-win for both employer and employee. 

Besides keeping his employees loyal to his company, Vector Infotech also gets tax relief for the amount spent paying off the loans, while his employees feel appreciated, motivated and relief knowing that their study loan is being paid off.

For more information about the scheme, click here.

Employers can pay their workers’ PTPTN loans via www.ptptn.gov.my (Portal Majikan Online).

P.S: Share this article with your boss!

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