SSF Registration Extended for One More Month
The government has decided to give a month’s extension to employers and workers to get registered under the Contribution-based Social Security scheme. The extended deadline for registration to the scheme has been set for November 29.The last deadline expired on October 17, 2019. Altogether 8,818 employers and 1,00,968 workers had registered under the scheme during this period. Government has extended time amid requests from employers for giving them some extra time as many of them could not register because of the festive season..”
After registration under the scheme and regular contributions, registered workers from the private sector will be entitled to old-age pension, medical treatment, health protection, maternity coverage, accidents, and disability compensation. The respective contribution of employer and employee is 20% and 11% altogether 31% of the workers’ basic monthly salary.
The government has also revised the scheme by drafting two new working procedures for utilizing funds collected under the scheme and providing loans to workers. With the changes in the scheme, a contributor can also get social, educational and housing loans from the fund.