To me, its quite low. I don't think someone with degree in accountancy can't get more than that. However, if it is the only work opportunity for you right now, I guess you can consider accepting it first due to the current situation.
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Yes, just accept it. You can get new experience and skills, plus, can add on to your working experience in your resume. Everyone started their job at the very lower level before reaching to the top.
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Anything legal, should be legal. The company should pay EPF & Socso even though your salary is below only RM1,400/month. Salary low or high is not related to experiences.
According to Section 43(1) of the EPF Act, every employee and employer within the meaning of this Act shall be liable to pay monthly contributions on the amount of wages at the rate respectively set out in the Third Schedule in EPF Act.
"Wages" refers to all remuneration in the form of money paid by an employer to an employee under a contract of service or apprenticeship, which includes any bonus, commission or allowance payable by the employer to the employee, but does not include service charge, overtime payment, gratuity, retirement benefit, retrenchment, and lay-off or termination benefits, any travelling allowance or the value of any travelling concession.
If Employer fails to do that, shall be guilty of an offence and shall, on conviction, be liable to imprisonment for a term not exceeding 3 years, or to a fine not exceeding RM10,000.00, or to both.
The statutory is for your future if anything happen to you. EPF for your saving while Socso is for your insurance during working. Thus, make sure: