National Structured Internship Programme (MySIP)
For providing quality internships
National Structured Internship Programme (MySIP)
The National Structured Internship Programme (MySIP) is developed to encourage companies to provide meaningful practical learning experience through approved structured internships module for students.
As an employer who hires Malaysian full-time student from local IPTA or IPTS including higher learning institutions abroad and TVET institutions to undergo a structured internship programme endorsed by us, you will be eligible for double tax deduction incentive for related expenses incurred on the interns throughout the programme.
To qualify for the MySIP incentive, your organisation must fulfil the following criteria:
- Provide a minimum internship period of ten (10) weeks
- Pay a minimum monthly allowance of RM600 for master’s degree, bachelor’s degree, Advanced Skills Diploma (DLKM) and Professional Certificate or equivalent
- Pay a minimum monthly allowance of RM500 for diploma/Malaysian Skills Certificate (SKM) Malaysian Skills Certificate (SKM) Level 1 to Level 3, Diploma Kemahiran Malaysia (DKM) or equivalent
- Provide an internship framework that includes practical experience and emphasizes on the development of specific knowledge or skills for students and approved by TalentCorp
- Registered with the Companies Commission of Malaysia (SSM)
- Complete your MySIP registration at www.mynext.my
For more information on the MySIP or to get in touch with the team, you can write to: sip@talentcorp.com.my
A company is allowed to declare MySIP internship with two options.
Option 1 – MyNext Advertised Internship
Company to post internship offers via mynext for interns to apply to the advertised internship posting.
- Company Signs Up on MyNext Platform
- MyNext Verifies Company's Validation Including MySIP Criteria
- Company Received Approval
- Company Starts Posting & Receives Applications
- Reject / Hires Applicants
- Internship Begins
- Talent Submits Survey
- Company Submits Survey
- TalentCorp Verifies Internship Information
- TalentCorp Issue LOE
Option 2 – MyNext Direct Hiring Internship
Company may have interns recruited by their own outside of mynext but to declare the internship programme under MySIP.
- Company Signs Up on MyNext Platform
- MyNext Verifies Company's Validation Including MySIP Criteria
- Company Received Approval
- Company Complete The Internship Module
- Company Complete Internship Type Details By Number Of Placement Offered
- Upload Interns' Details (Single/Bulk) (Completed Internship: backdated declaration within same assessment year) (On-going Internship: current/future internship within same assessment year)
- MySIP Facilitation Fee (with 100% discount code)
- Talent Submits Survey (Mandatory for On-Going Internship)
- Company Submits Survey
- TalentCorp Verifies Internship Information
- TalentCorp Issues LOE
Upon completion of internship program, company can claim for double tax deduction for both Options.
Highlights
Be a MySIP Company! Contact us.
FREQUENTLY ASKED QUESTIONS – STUDENT
How to apply?
Step 1: Visit www.mynext.my and choose mynext Talent
Step 2: Sign up and complete the About Me section in the mynext portal
Step 3: Complete the Profiling Suite assessment in the mynext portal
Step 4: Graduate can apply for internship in the mynext portal.
Step 2: Sign up and complete the About Me section in the mynext portal
Step 3: Complete the Profiling Suite assessment in the mynext portal
Step 4: Graduate can apply for internship in the mynext portal.
Will I receive an allowance during my internship under MySIP?
Yes. The company will pay a minimum monthly allowance of RM600 for Master’s Degree, Bachelor’s degree and Professional Certificate or equivalent, and a minimum monthly allowance of RM500 for diploma/Malaysian Skills Certificate (SKM) Level 1 to Level 5 or equivalent.
What is the difference between general internship and MySIP internship?
MySIP internship guarantees that you will receive a minimum allowance. At the same time, the MySIP companies have internship programmes that are structured to make sure that you will gain real work experience, the framework of which has been reviewed and approved by TalentCorp. You will also stand to attend upskilling training during your internship. While for general internship is the internship offered but not meeting MySIP criteria which you will not be benefiting MySIP perks.
How do I know if I am eligible for MySIP Initiative?
You need to receive an internship placement offer from a MySIP company. Kindly refer to the details of student eligibility stated on the Graduate page.
How can I be part MySIP?
There are two ways to be part of MySIP
Via mynext Talent application
Via mynext Talent application
- Sign up at mynext Talent at www.mynext.my
- Complete the profiling assessment in the mynext portal (https://www.mynext.my/)
- Apply for internship on the same dashboard
- Check the listing of MySIP company on TalentCorp website
- Send your internship application
- Get hired and enjoy MySIP benefits
What is the benefit that I can get from MySIP?
- Gain the right professional experience and working skills
- Career path exploration and opportunity to receive job offers upon internship completion
- Guaranteed minimum allowance
- Opportunity for upskilling training during internship
FREQUENTLY ASKED QUESTIONS – FOR EMPLOYERS & PARTNERS
How to register your company?
You have two (2) options to register as a MySIP company
Option 1: You will need interns to apply to your posting and you are willing to invest in relevant advertisement on mynext
Option 2: You have existing interns in your company, and you are seeking for facilitation to be a MySIP company
Both options will give you the endorsement for MySIP 2022 which giving you the eligibility to claim for the double tax deduction benefit.
Contact us at sip@talentcorp.com.my. We will assist you with the process.
What are the requirements to be MySIP company?
- Provide a minimum internship period of 10 weeks
- Pay a minimum monthly allowance of RM600 for Master’s Degree, Bachelor’s degree and Professional Certificate or equivalent
- Pay a minimum monthly allowance of RM500 for diploma/Malaysian Skills Certificate (SKM) Level 1 to Level 5 or equivalent
- Provide an internship framework that include practical experience and emphasises the development of specific knowledge or skills for students and approved by TalentCorp
- Registered with Companies Commission of Malaysia (SSM) or recognized entities
Is there any charges to apply for MySIP company?
TalentCorp is given a mandate to facilitate MySIP company registration and endorsement based on the gazette received from the Ministry of Finance. As such, there are no charges to apply to be a MySIP company.
Additional charges will only apply if you decide to advertise on the mynext platform in search of interns. Please refer to www.mynext.my for more information.
What are the benefits of MySIP?
MySIP companies will receive the following benefits:
- Be eligible to claim for Double Tax Deduction from the Inland Revenue Board (LHDN) on expenses occurred during internship such as allowances, logistics, data and communication and training.
- Employers can create and groom their talent funnel for their companies.