Kathmandu, December 20: The Ministry of Labour, Employment and Social Security (MoLESS) has assured the employers and employees that they will not be deprived of the social security facilities that they have been getting through other government agencies by switching to the social security fund (SSF)
Such assurance on the part of the ministry surfaced when many firms, including the banks and financial institutions (BFIs), are showing reluctance to get registered at the SSF.
They fear that the government’s social security scheme may even deprive them of the social benefits being provided by the Employees Provident Fund (EPF) and Citizen Investment Trust (CIT), where they are currently registered.
“The outcomes and facilities that the Social Security Fund will provide cannot be compared to that of the EPF and CIT,” states the ministry adding, “Every fund and program has different objectives. The contribution-based social security scheme is purely intended to ensure the security of workers.
At the same time, it also warns that any institution not willing to get listed in the scheme will face strong action.
So far, 131,577 workers and 11,797 employers have been listed in the social security scheme the government had set a deadline for private firms to join the SSF by November 30. But, a majority of firms are yet to join SSF.
