Shyamraj Adhikari<\/span>, Executive Director of Social Security Fund.<\/p><\/blockquote>\nUnder the new law, all private employees of Nepal are mandated to contribute 11 percent of their basic salary to the social security fund, while employers will add 20 percent of the employee\u2019s basic salary.<\/p>\n
Through this contribution, employees will get entitlement to compensation in case of job loss, illness, accidents and situations leading to work-off due to pregnancy (in case of females).<\/p>\n
Once the scheme is launched, the employees will start sending mandated deposits to the Citizen Investment Trust and Employees Provident Fund to Social Security Fund (SSF).<\/p>\n
Out of the total fund, SSF will allocate 3.22 percent for medical treatment, health & maternity security, 4.52 per cent for accident & disability security, 0.87 per cent for dependent family security and 91.39 per cent for old age security.<\/p>\n
Nepal Social Security Scheme Benefits<\/strong> \nAs per CBSC guidelines, an employee can avail medical treatment scheme under SSF only if he\/she has paid the mandated deposit regularly at least for six months. Whereas, the contributor should have worked for 18 months and regularly deposited instalments for at least 12 months to avail the health and maternity security benefits under SSS.<\/p>\nComing to the accidental and disability coverage, workers can avail the benefits immediately a day after depositing their first instalment.<\/p>\n
Employees can also avail compensation benefits in case of any injuries in the workplace or in case they develop medical complications due to work condition. This will be effective only after they work for a minimum of two years and deposited all instalments on a regular basis.<\/p>\n
The scheme also offers pension eligibility for all workers for 15 years after they begin regular contribution to the fund.<\/p>\n
Responding to the scheme, the private sector feels that SSC will surely ensure workers\u2019 social security and creates investor-friendly environment across the country.<\/p>\n
\u201cThe scheme is being introduced after the government held discussions with the private sector and we welcome this initiative,\u201d said Chandra Dhaka<\/span>l, Chairman of Employers\u2019 Council and Vice-President of Federation of Nepalese Chambers of Commerce and Industry.<\/p><\/blockquote>\n\u201cThe social security scheme has ended the uncertainty surrounding their lives even as they continue to work hard for their employers,\u201d said Chirag Man Singh Kunwar<\/span>, president of National Democratic Confederation of Nepalese Trade Unions.<\/p><\/blockquote>\nHope the new scheme will start address basic social security concerns of Nepalese in their day-to-day lives!<\/p>\n","protected":false},"excerpt":{"rendered":"
In a move ensuring social security of working population of Nepal, the Government of Nepal has…<\/span><\/p>\nRead more<\/a><\/div>\n<\/p>\n","protected":false},"author":761,"featured_media":14029,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7042,3],"tags":[1076,10608,10610,98,10607,2994,1185,10611,2113,10609,2291,6172],"yoast_head":"\n
Nepal Launches Social Security Scheme, Calls it \u2018New Era\u2019<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n