Get to know better the Social Security Fund and its Schemes in Nepal
Here, I want to make a clearer illustration of how the Social Security Fund operates across four different facilities as set forth by the latest Guideline together with some newer features. I will use an example: Example: Let us take NPR 50,000 as the basic salary of an employee whose employer organization has signed up for the Social Security Fund. Hence, out of your basic salary of NPR 50,000 , your employer deducts 11% from it as the first share, deducts another 20% from the basic salary and deposits at total of 31% of your basic salary to the Fund on a monthly basis. The amount of NPR 15,500 is then distributed among 4 different schemes as: 1. Medical and Safe Maternity Scheme 2. Accidental and Disability Protection Scheme 3. Dependant Protection Scheme 4. Old Age Security Scheme The distribution is made in a proportion as follows: Major Benefits of each Schemes A. Medical and Safe Maternity Scheme a. To be able to claim facility under this scheme, the contribution p
