The Government of Nepal promulgate the Contribution based social security program through the social security Act. The government have no contribution & no tax exemption for any benefit & returns from the SSF. Except some social insurance the beneficiaries will start to get return as pension only after age of 60. Total contribution will be 31% of basic salary , employee & employer will contribute 11% & 20% respectively per month. Participation on program is mandatory for all private organisation . Grievances , debates & discussions are ongoing , even the beneficiaries are not willing to participate as they have alternate funds like CIT , PF & other Insurance schemes .
The government of Nepal has to put in place a policy to encourage participation, especially with regard to companies employing the contribution, was working to make its contribution to the guarantee 20 percent of tax deductions for income tax as a kind of encouragement to contribute
It depends on proportion between subject will be secured. Whether it is major in healthy and medicine above 50%, or in education, or accident on employee below 30%. It would determine of successful of this program. Like that.
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