Social Security Fund Registration In Nepal
Published on: May 21, 2024
Category: Uncategorized
Social Security Fund (SSF) registration in Nepal is mandatory for employers and employees to ensure social protection and welfare. It involves enrolling both employers and eligible workers into the SSF scheme, which provides benefits such as pensions, medical care, maternity benefits, and accident insurance. Registration requirements and procedures are overseen by the SSF Authority, and compliance is essential for businesses operating in Nepal to fulfill their legal obligations and provide social security coverage to their employees.
Description
Social Security Fund(SSF) Registration in Nepal
Social Security Fund(SSF) is regulated by Social Security Act, 2074. SSF is mandatory statutory requirement for all employers and employees in Nepal for all the formal and informal sector worker.
Regulatory Authority For SSF
-Office of Social Security Fund, located at Babarmahal , Kathmandu.
Registration Timeline
-The last day of registration for already established companies/entities was Ashoj 30, 2076 BS.
-Employer shall make registration of employees in SSF within 3 months from the appointment date or date of establishment of employment.
Procedure for enlistment in SSF
Enlistment is done by way of online registration system through www.ssf.gov.np.
Step 1:Employer Registration
Company registration should be done with SSF by filling the online form. The certificate is issued within two days of application.
Documents Required for Employers
· Company Registration Certificate
· PAN/VAT Certificate
· Details of the company's representative involved in the registration process
· Application form submitted by the employer
Step 2: Employee Registration
After successful registration of employer, employer shall also register its employees which allows employees quick access to the benefits and security provided by the Social Security Fund.
Documents Required for Employees
· Personal Details of the employee getting registered with SSF
· Employee's citizenship certificate/ National Identity Card
· Personal PAN/ Passport
· Passport Size photo of the employee
Contribution Rates
A total of 31% gets deposited into SSF for each employee each month, the contribution constituiting;
-20% from the employer
-11% from the employee
Government Fee for enlistment
There is no such government fee to get registered in Social Security Fund for both the employer and employee.
Allocation of Contribution
As per Social Security Fund Operating Procedures, 2075, the contributions made by both employers and employees are allocated to distinct social security schemes.
· Medical Treatment, Health, and Maternity Protection Scheme: 1% of the total contribution.
· Accident and Disability Protection Scheme: 1.40% of the total contribution.
· Dependent Family Protection Scheme: 0.27% of the total contribution.
· Old Age Protection Scheme: A significant 28.33% of the total contribution.
The combination of these allocations results in a total contribution of 31%, ensuring a well-rounded support system for the beneficiaries.
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Rabin Dhakal and Associates, Chartered Accountants
Kathmandu, Nepal.
rabindhakalassociates@gmail.com
rdhakalassociates.com
Whatsapp / Viber: +977-9851232718