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Labour Ministry Asks Finance Ministry to Contribute to SSF on behalf of Workers

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Labour Ministry Asks Finance Ministry to Contribute to SSF on behalf of Workers
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April 15: The Ministry of Labour, Employment and Social Security has written to the Ministry of Finance to deposit the amounts of 33,000 contributors to the Social Security Fund (SSF) for the month of Chaitra (mid-March to mid-April).

According to the labour ministry, it has requested the finance ministry to deposit Rs 880 million on behalf of 33,327 employees working in 861 different private organisations.

The Social Security Fund has been collecting 11 percent of monthly salary of the employees in addition to 20 percent amount of their salary deposited by the employers in return for social security during times of crisis and after retirement. The government has made it mandatory for all private organisations to contribute to the fund, which promises pension to the employees and other benefits after retirement.

Due to the ongoing crisis caused by the lockdown to contain the spread of the coronavirus, the government had pledged to deposit the amount for the month of Chaitra by itself on behalf of the private sector.

The government had made such announcement a few weeks ago while unveiling the relief packages to the sectors affected by the impact of coronavirus, informed Suman Ghimire, joint secretary at the Ministry of Labour, Employment and Social Security.

According to Ghimire, the finance ministry will deposit the amount in the SSF as per the recommendation of the labour ministry.

 

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