s 43 Rate of contributions
(1) Subject to section 52, every employee and every employer of a person who is an employee within the meaning of this Act shall be liable to pay monthly contributions on the amount of wages for the month at the rate respectively set out in the Third Schedule. (2) Any person being an employer who fails, within such period as may be prescribed by the Board, to pay to the Fund any contributions which he is liable under this Act to pay in respect of or on behalf of any employee in respect of any month shall be guilty of an offence and shall, on conviction, be liable to imprisonment for a term not exceeding three years or to a fine not exceeding ten thousand ringgit or to both. (3) Without prejudice to subsection (1), an employer and an employee or either of them may, at any time elect to pay monthly contributions at a rate which exceeds the rate respectively set out in the Third Schedule by one ringgit or a multiple of one ringgit. (4) Notice of such election shall be given to the Board in such manner as may be prescribed by the Board and where any such notice has been given, this Act shall, in respect of any employer or employee who has elected as aforesaid, apply as if the rate of contribution which such employer or employee has elected to pay, were the rate respectively set out in the Third Schedule: Provided that an election cannot be made to take effect retrospectively. (5) An employer and an employee or either of them may, at any time, revoke his election made under subsection (4). (6) Notice of such revocation shall be given to the Board in such manner as may be prescribed by the Board and where any such notice has been given, this Act shall, in respect of any employer or employee who has revoked as aforesaid, apply as if such employer or employee has not elected to pay the excess contribution: Provided that a revocation cannot be made to take effect retrospectively. (7) In the event of the death of an employee, no contributions shall be due under this section by or on behalf of such employee in respect of the month during which such death occurs: Provided that where any such contribution has been received it shall be paid into the Fund in accordance with section 50. (8) Notwithstanding subsection (1)— (a) a self-employed person; (b) a pensionable employee; (c) any person not being an employer or an employee within the meaning of this Act; or (d) any person not being an employer and not being an employee within the meaning of this Act and both have given their consent to contribute, may, by giving notice in such manner as may be prescribed by the Board, elect to pay monthly contributions in accordance with the rate as prescribed by the Board.