Is the part time job as freelancer is legal for an expat ?

Hi All,
May i know your suggestion/Answer on below scenario -
I am working for "X" company with category one employment pass.
I got one part time job as consultant freelancer for another company "Y".
1- May i work as freelancer with company "Y".
2- If i decide to work with company "Y", May i get payment in my current bank account?
or should i take payment as cash ?
Please note amount of contract  is not very big, its around 20k for four months contractual work.

I am worried if government can caught me if some amount is getting credited by company "Y" though my visa is tagged to company "X".

Thanks to all community members for their help...

You would need to get immigration approval for the second employer

The ESD website explains the process under the Downloads section

https://esd.imi.gov.my/portal/downloads/

Best to maintain transparency and be paid into a bank account. The income from Y is taxable and you have to report it in your tax return

it means i can work for two employers but i need to declare the second employer as well. Am i correct ?
But i am unable to understand which form i need to fill to declare the second employer?

Did you check the link provided above under Second Location requirement? There is  a Checklist and DP11 form obtained via links.

Gravitas :

Did you check the link provided above under Second Location requirement? There is  a Checklist and DP11 form obtained via links.

Yes. I checked it but unable to get inference whether second location implies to second employer.
Thanks for clearing out the confusion.
Thanks Gravitas.. Appreciate your prompt response..

You can only hold one EP at a time so that is why the term Location is used instead of second employer

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