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625 Firms to Collaborate With Social Security Fund

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Kathmandu, January 31, 2019: Private companies have recently started taking part in the contribution- based Security Scheme reviled by the government almost two months backward for formal sector workers.

According to the information given by the Social Security Fund (SSF), 625 companies have already registered with their details at the funds till Friday. Where as some of other companies are still registering through the funds website.

During the program organized by the Ministry of Labor, Employment and Social Security (MoLESS) in Kathmandu on Monday, Gokarna Bista the Labor Minister handed over certificates of association of 225 firms. Along he added, “SSF will verify the remaining 353 employers in the next phase.”

The registration for SSF has been given a deadline where, one must register themselves within mid-march while they should finish registering their workers by mid-June.

According to the Labour minister, he said most of the firms that are registering are usually, liquor companies, hydropower firms, banks and financial institutions and different corporate houses. Lots of other renowned firms like Jawalakhel Group of Industries, MAW Enterprises, Park Village Hotel, Panchakanya Group, SJVN Arun III Hydropower, Asian Distillery, Chaudhary Group, Himalayan Distillery, Sanima Mai Hydropower and Everest Insurance Companies has registered their details.

According to the Executive director of SSF Shyamraj Adhakari, to make the Social security Scheme project reach to success it requires the combined efforts of the government, the employers and the employees. Regarding the information provided by the Scheme, from the total fund collected from the SSF, 3.22 percent will be allocated for the medical treatment and health and maternity security and 4.52 present for the accident and disability security. It will also allot 0.87 percent for the dependent family security and 91.3 percent for the security of old age.