Pembangunan Sumber Manusia Berhad Act 2001 · Updated to 1 Nov 2017 · Part III · Registration and Human Resources Development Levy
18. Interest on levy due but not paid in time
Feedback & supportAn employer who fails to pay within such period as may be prescribed, any levy due from him shall be liable to pay interest on the unpaid levy at the rate of ten per centum per annum in respect of each day of default or delay in payment.
employer
“employer” means any person who has entered into a contract of service to employ any other person as an employee, and includes an agent, manager or factor of such first-mentioned person;
If the amount of interest calculated in accordance with subsection (1) is less than five ringgit, the interest payable shall be five ringgit in respect of each month or part of a month of the default or delay in payment.
If the amount of interest calculated in accordance with subsection (1) exceeds five ringgit, the interest payable shall be calculated to the next higher ringgit in respect of each month or part of a month of the default or delay in payment.
The Board may, in any case in which it thinks fit, remit in whole or in part the payment of any interest due under this section.