International Legal and Ethical Issues in Business IP Week 5 Essay - 1

International Legal and Ethical Issues in Business IP Week 5 - Essay Example es the environmental regulations as well as wages and working-hour legislation that exist in Malaysia and Singapore, two of the well known East Asian countries. To ensure harmony in the Malaysia industrial sector, the government has allocated the administration of the labor laws to the Department of labor. Based on the high demand for employment in Malaysia, adequate labor laws have been enacted to stimulate the minimum requirements that are needed in all types of employment that exist in the country. One of the notable legislations that have been established by the Malaysia government is the Employment Act of 1955. This law applies not only to manual laborers regardless of their salaries but also to all workers in Peninsular Malaysia whose monthly salaries is not more than RM1, 500 (Malaysia Labor Standards, 2012). Some of the major obligation of an employer under the Employment Act 1955 is that all the employees must be provided with a written contract that depicts the terms and conditions of their employment. Additionally, the law provides normal hours of work as well as the rate of hourly payment for overtimes and extra work. Employees provident Fund Act of 1991 is another key legal aspect that stipulates mandatory contribution for all employees working in Malaysia. According to this law, employees below the ages of 55 years earning more than RM5, 000 should contribute a minimum of 11% of their monthly wages to Employees Provident Fund (EPF). On the other hand, the employer should contribute a minimum of 12% of the employee’s wages to the Employees Provident Fund (Malaysia Labor Standards, 2012). Malaysia environmental regulation is sufficient. Based on the large number of legislations passed by the law making body, the country has addressed large number of issues that does not affect the local companies but also foreign firms. For example, the Workmen’s Compensation Act of 1952 imposes obligation on the employers to insure their employees. In the same