Grace Period of employment transition (Kuala Lumpur)

Hi, I've a question regarding expat EP (employment pass) expiry. If there is a difference between an employment contract end date and EP expiry date, which is the valid date ? For example, if the employment contract ending on Jan Protected content the EP is valid till Feb Protected content , can the person stay in Malaysia till end of EP expiry date e.g. Feb, Protected content ?

Related question is, after contract end, can an expat get any grace period to close/settle his/her tax, banking, living and other matters before leaving Malaysia ?

Appreciate some advice / comments based on Govt. policies / practice.

Regards - Asif