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Social Security Bill Passed
Social Security Bill Passed
KTM Metro Reporter
July 25, 2017
Kathmandu: The legislature has passed the Social Security Bill yesterday by the majority votes; it would be an Act after 91 days from the date of the president signed it off. social security will be provided based on the contribution, according to the news in “gorkhapatra” on July 25, 2017.
The Bill has shed certain items such as unemployment allowance, single woman allowance, and other social allowances, as the International Relations and Labor Committee did not like it and removed it from the bill, the news stated.
After the Act comes to force, any companies need to deposit 20 percent (probably of salaries) and laborers 11 percent in the Social Security Fund. Companies failing to deposit the stated amounts become subject to punishment. In case, the fund has not sufficient funding to provided the social security then the government would fill up the gap, according to the news.
