This article will let you know all about the documents required and processes for Social Security Fund Registration in Nepal.
Introduction – Social Security Fund Registration in Nepal
In Nepal, the Social Security Fund (SSF) stands as an essential system, offering financial security to both employees and employers.
Regulated by the Social Security Act of 2018 (2075), this system mandates the registration of companies and their workforce.
In this article, we will explore the key aspects of SSF registration in Nepal, making it easier for you to understand the process and the benefits it offers.
Who Should Register Under the Social Security Fund?
Every employer and employee within Nepal must undergo registration with the SSF.
In contrast to various other nations, Nepal’s Social Security Act refrains from specifying particular sectors, industries, businesses, or services that necessitate participation.
Consequently, whether you operate in manufacturing, services, healthcare, or any other field, SSF registration remains mandatory.
Office of Registration
The registration process is facilitated by the Office of Social Security Fund, situated in Babarmahal, Kathmandu. This office possesses the regulatory power to monitor and provide official certificates of social security.
For detailed information and convenient online registration, individuals are encouraged to explore the official website of the Social Security Fund at https://ssf.gov.np/np.
Registration Procedure – Social Security Fund Registration in Nepal
In the registration process for both employers and employees under the Social Security Fund, there are distinct steps to follow.
- Employer Registration
The primary step involves company registration with the Social Security Fund. Employers can accomplish this by filling out an online form in the specified format.
The expedited processing ensures that the certificate is issued within two days from the date of application, streamlining the administrative process for businesses.
- Employee Registration
Following the employer’s successful registration, employees must register within three months from their appointment date or when the employee-employer relationship is established.
This timely action ensures compliance and allows employees quick access to the benefits and security provided by the Social Security Fund.
Documents Required for Social Security Fund Registration in Nepal
Ensuring a seamless process, no physical submission of documents is necessary for the registration of both employers and employees under the Social Security Fund.
The entire registration procedure can be efficiently completed online, simplifying the administrative steps for businesses and individuals alike.
This streamlined online approach enhances accessibility and expedites the registration process, making it convenient for all parties involved.
Document Required For Employers
Company Registration Certificate: Proof of the company’s legal establishment.
PAN and VAT Certificate: Tax-related identification documents.
Details of Employers: Information about the company’s representatives involved in the registration process.
Application Form: Completed application forms submitted by the employer.
Document Required For Employees
Employee Details: Personal information of the employee registering for SSF benefits.
Employee Citizenship/National ID Card: Valid citizenship or national identification document.
PAN Certificate/Passport: Tax identification or passport for official identification.
Passport-Size Photo of Employee: Recent photograph of the employee for official records.
Funding Rates
Once registered, both employees and employers are obligated to make specific monthly contributions to the fund. These contributions play a pivotal role in sustaining the SSF and providing various schemes and benefits.
Employees: 11% of the basic salary per month.
Employers: A slightly higher 20% of the basic monthly salary of each employee, amounting to a total of 31% of the employee’s basic salary.
These contributions ensure the sustainability of the Social Security Fund and its ability to provide various schemes and benefits.
No Government Fees
One particularly encouraging aspect of SSF registration in Nepal is the absence of any government fees for listing your company or employees under the SSF.
This not only simplifies the registration process but also renders it a highly appealing option for both employers and employees, eliminating any financial barriers and ensuring broad accessibility to the program’s benefits.
Allocation of Contribution
The contributions made by both employers and employees are meticulously allocated to distinct social security schemes, in accordance with the Social Security Regulations of 2018 (2075).
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.
This strategic allocation ensures that the contributions serve specific social security purposes, benefiting various aspects of employees’ lives, ranging from healthcare and maternity support to disability protection and old age benefits.
Conclusion
Social Security Fund registration in Nepal is a crucial step for both employers and employees.
It provides financial security and peace of mind, ensuring that individuals are protected during various stages of their lives, such as accidents, illness, and old age.
The process is straightforward, with no government fees and a straightforward online application.
