Over 50,000 workers listed in social security fund

Published On: September 12, 2019 10:00 AM NPT By: Republica | @RepublicaNepal

4,790 firms sign up for mandatory SSF a month before the deadline for registration

KATHMANDU, Sept 12: A total of 4,790 companies and organizations have registered themselves with the Social Security Fund (SSF), according to the SSF secretariat.

The employers who have signed up in the SSF system have listed over 50,140 employees for their contribution in the scheme. With the listing in the SSF system, their employers will start depositing their contributions in the fund.

The SSF scheme was launched amid much fanfare last year. All employers now must get registered with the SSF system within a month.

The government has provided a deadline of October 16 for all employers within the country to get registered with the contribution-based SSF system.

Under the contribution-based social security scheme that extends protection to employees in the private sector, each employee will have 11% of his or her basic salary deducted for payment into the SSF. The employer will make a counterpart payment into the fund equivalent to 20% of the salary. Employees contributing into the fund will be entitled to various social security benefits.

Kapil Gyawali, executive director at the SSF secretariat, told Republica that the number of employers registering with the new social security fund scheme has been rising in recent days.

He said that the fund has made some technical improvement in recent days to make it easier for employers to get registered in the SSF system.

“Not only our staffers are reaching out to big employers to facilitate them in registration, we are also organizing interaction with various stakeholders to continuously improve our system,” Gyawali told Republica.

According to Gyawali, large firms and organizations have also registered themselves in the SSF system in recent days. Among others, Chaudhary Group, Golchha Organization, Dabur Nepal, Surya Nepal, Shivam Cement, Unilever, Nobel Medical College, Goldstar Shoes, Norvic Hospital, and Kist College have listed their workers in the new social security system.

Under this social security system, all employees enrolled under it will be entitled to assistance for medical treatment, health and maternity protection, accident and disability protection, dependent family protection, and elderly protection (pension).

The government has already warned that those firms or organizations not listing themselves in the SSF scheme by mid-October will have to bear all liabilities related to social security benefits of their employees.

Gyawali also said that SSF is also launching a separate call center next week to disseminate all information related to the SSF.

Meanwhile, a total of Rs 10 million has been collected in the contribution from the listed workers in the scheme so far.