employees provident fund nepal
employees provident fund (epf nepal): कर्मचारी सञ्चय कोष nepal is the pension fund / provident fund for employees of government and private sector of nepal .
interest rate adjustment: the board of directors of the provident fund sets the interest rate based on the fund' s annual income .
employees' provident fund (http: / / www. epfnepal. com), an autonomous body under the general supervision of the ministry of finance (
manages the provident fund (pf) of all army and police personnel, civil servants, employees of state owned corporations, and teachers of governments schools in nepal. similarly, any private sector establishments with more than ten employees are also eligible to become members, and we manage the pf of their employees as well. besides pf managemen
employees of one month of wages for each year of service in all firms with 10 or more employees .
7. the employees’ pensionthe employees’ pension scheme, 1995scheme, 1995 purpose: the purpose of the scheme is to provide for (1) superannuation pension, retiring pension or permanent total disablement pension to employees covered by the employees’ provident funds and miscellaneous provisions act, and (2) widow or widower’s pension, children pension or orphan pension payable to the beneficiaries of such employees .
the epf nepal also give different loans like house, education and more at affordable interest rate .
it is currently managing provident funds of 500, 000 employees working for both govt and private sector. also invest in different sectors like infrastructures and hydroelectricity .
paid for the partial or permanent disability or accidental death of the fund member .
employees provident fund (epf), manages provident fund (pf) in nepal on behalf of the government of nepal (gon) for government, public and private sector employees and come under ministry of finance. employees provident fund invites applications from qualified candidates or following positions. 1. senior manager (chartered accountant) level: 9 no. of vacancies: 1 position exam type: written and interview click here to download syllabus (chartered accountant) 2. section officer level: 6 no. of vacancies: 8 positions exam type: written and interview educational qualification: master’s degree click here to download syllabus (section officer) 3. head assistant level: 5 no. of vacancies: 43 positions exam type: written and interview educational qualification: bachelor’s degree click here to download syllabus (head assistant) 4. senior computer assistant level: 5 no. of vacancies: 3 positions exam type: written, practical and interview educational qualification: intermediate / + 2 pass experience: 6 months computer training click here to download syllabus (senior computer assistant) download application form application deadline: 29 july 2015 (13 shrawan 2072) click the link below to view original vacancy and more details: vacancy notice: employees provident fund (karmachari sanachaya kosh )
4. the employees’ providentthe employees’ provident funds scheme, 1952funds scheme, 1952 applicability: every employee employed in or in connection with the work of a factory or other establishment covered by the schemes other than an excluded employee is entitled and required to become a member of the fund from the date of joining the factory or establishment .
employees are repaid through reinvested dividends. employees may withdraw 30% of their accumulated epf savings at age 50, and 100% at age 55 .
disability, unemployment, and various other insurance programs. public - and private - sector employees already contribute 1% of earnings to the fund, but no benefits have been introduced .
an annual bonus based on the fund' s operating profit is credited to each member' s account .
10% of monthly payroll. (employers may make additional voluntary contributions for employees. )
2. objectiveobjective  the employees’ provident funds and miscellaneous provisions act, 1952 is enacted to provide a kind of social security to the industrial workers. the act mainly provides retirement or old age benefits, such as provident fund, superannuation pension, invalidation pension, family pension and deposit linked insurance.  the act provides for payment of terminal benefits in various contingencies such as retrenchment, closure, retirement on reaching the age of superannuation, voluntary retirement and retirement due to incapacity to work .
employees provident fund (karmachari sanchaya kosh), manages provident fund (pf) in nepal on behalf of the government of nepal (gon) for government, public and private sector employees and come under ministry of finance. the primary objective of employees provident fund is to manage the provident fund of the government, public and private sector employees and to help them financially on retirement or separation from their jobs. published on 19 jan 2018 employees provident fund has published written exam & exam center notice [ view notice ] read also: management trainee and trainee assistant wanted at deprosc laghubitta bikas bank published on 2 august 2017 employees provident fund (karmachari sanchaya kosh) announces vacancy (published on gorkhapatra daily, 2 august 2017) for for the following positions 1. job position: officer > level: 6 > no. of vacancies: 4 > job category: administration > job type: full time > nature of job: permanent > educational qualification: master' s degree > experience: fresher can apply > examination type: written and interview > application fee: rs. 1125 / -; for each additional position, rs. 500 / - will be added. 2. job position: legal officer > level: 6 > no. of vacancies: 1 > job category: administration / legal services > job type: full time > nature of job: permanent > educational qualification: bachelor' s degree in law / legal studies or master' s degree > experience: fresher can apply > examination type: written and interview > application fee: rs. 1125 / - 3. job position: sr. assistant > level: 5 > no. of vacancies: 23 > job category: administration > job type: full time > nature of job: permanent > educational qualification: bachelor' s degree > experience: fresher can apply > examination type: written, computer practical test and interview > application fee: rs. 625 / -; for each additional position, rs. 300 / - will be added. age limit: > male: should have completed 21 yrs and should not exceed 35 yrs as on 31 august 2017 > female: should have completed 21 yrs and should not exceed 40 yrs as on 31 august 2017 click [ here ] to view original vacancy for more details and application procedure application deadline for all above positions: 30 days with in vacancy published date i. e. 31 august 2017 read also :
reliance life insurance limited is a newly established prominent life insurance company promoted by eminent business and industrial houses in nepal including siddhartha bank limited and led by the experi ...
the rural microfinance development centre ltd. (rmdc) is a wholesale lending organization in nepal. the main function of rmdc is wholesale lending to mfis. besides, it has been extending institutional capacity building supports to mfis. curr ...
loan scheme: loans are provided from the fund member' s account to help finance the cost of housing, education, and other needs. the qualifying conditions vary according to the nature of the loan .
epf nepal is a way to secure employee after retirement. most of the salary were not enough and when people retired from their job due to old or other reason. they could not afford anything in general. so, this might be one of the reason why epf exist .
5. excluded employee:  an employee who, having been a member of the fund, has withdrawn the full amount of his contribution in the fund (a) on retirement from service after attaining the age of 55 years or (b) before migration from india for permanent settlement abroad; or for taking employment abroad  an employee whose pay at the time he is otherwise entitled to become a member of the fund, exceeds rs. 6, 500 / - per month.  a person who, is an apprentice, or who is declared to be an apprentice by the authority specified in this behalf by the appropriate government .
11. formalities under epf actformalities under epf act  employer contribution of 12% of the salary of employees is to be paid as under • 3. 67% to be remitted in account no. 1 (employees account) • 8. 33% to be remitted in account no. 10 towards pension fund  in addition to 12% of the employer has to remit 1. 61% paid as under • 1. 10% administrative charges in account no. 2 • 0. 5% edli in account no. 21 • 0. 01% inspection charges in account no. 22
16. compliances under epf & mp act, 1952compliances under epf & mp act, 1952 in sbibefore 15th of every month challanmonthly contribution of employer & employee in challan for previous month 2. rpfc officebefore 25th of every month 12amonthly return4 rpfc officebefore 15th of every month 10return of employees leaving3 rpfc officebefore 15th of every month 5return of employees qualifying2. rpfc officeat the time of joining 2declaration form from new joinees 1. remark / submitted to compliance date form no. type of compliancesr. no .
15. benefits of edli schemebenefits of edli scheme the benefit provided under the scheme in the nature of life insurance as follows: 1. on the death of an employment while in service a lump sum insurance amount is payable to his nominee or family members. 2. the insurance amount is equal to the average balance in the account of the deceased employee in the provident fund during a period of 12 months immediately preceding his death. in case the average balance exceeds rs. 35, 000 / - the insurance amount payable is rs. 35, 000 / - plus 25% of the amount in excess of rs. 35, 000 / - subject to a ceiling of rs. 60, 000 / - .
10. formalities under epfformalities under epf actact casual workers / temporary workers / probationary, even if they had performed work even for a day, are technically taken into account for the purpose of assessments of strength of 20 for the purpose of applicability of the act and are also covered under the act. apprentices / trainees are excluded from the definition of employees.  percentage of contribution to be deducted from employees contribution is 12% of his salary, namely basic + da, but does not include hra, cca, incentive, bonus, washing allowance etc .
6. contribution under epfcontribution under epf scheme, 1952scheme, 1952 1. employees: 12% on basic + da 2. employer: (a) 3. 67% on basic + da (b) administrative charges: 1. 10% on basic + da 31 jan 2015
the 1993 labor rules require employers in firms with 10 or more employees to pay a cash benefit to workers with at least three years of employment when they retire or resign (50% of monthly wages is paid for each of the first seven years of service, 66% for each year from eight to 15 years, and 100% for each year exceeding 15 years) .
14. contribution under edlicontribution under edli scheme, 1976scheme, 1976 1. employees: not required 2. employer: (a) 0. 5% on basic + da (b) administrative charges: 0. 01% on basic + da where the monthly pay of an employee is more than rs. 6, 500 the contribution payable in respect of him by the employer is limited to the amts payable on a monthly pay of rs. 6, 500 only .
9. formalities under epf actformalities under epf act  employees have been appointed on salary (basic + da or consolidated) of rs. 6500 or less or covered under the provision of the epf act, right from the day of commencement of their work. employee can contribute more behind rs. 6500 similarly employer also at his discretion can do so but not mandatory  epf act is applicable to such of the establishments who are engaging 20 or more persons or had engaged 20 or more persons at any time during calendar year .
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one of the following general insurance company invites application from highly motivated, skilled dynamic and result oriented nepalese citizen for the following positions for the head of ...
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note: additional cash benefits are provided to nepalese citizens based on ethnicity and geographic location .
aged 70 or older (aged 60 or older for dalits and residents of karnali zone) .
aged 16 or older and assessed as blind or having lost the use of feet or hands .
paid to nepalese widows aged 60 or older who satisfy a means test (no personal income, no family support, and no survivor pension as a widow) and for dalit children or children younger than age 5 from the humla district .
a lump sum of employer and employee contributions plus 8% interest a year is paid .
loan scheme: the maximum amount that may be borrowed and the maximum borrowing period vary according to the nature of the loan .
500 rupees a month is paid; 1, 000 rupees a month for members of the rautes, chepang, and certain other ethnic groups .
a lump sum of 100, 000 rupees is paid for a total disability .
partial disability: a lump sum of 10, 000 rupees to 25, 000 rupees is paid according to the assessed degree of disability .
1, 000 rupees a month is paid for a total disability and 300 rupees a month for a partial disability .
a lump sum of 150, 000 rupees (civil servants) or 45, 000 rupees to 75, 000 rupees (military personnel) is paid to a named survivor or heir. if there is more than one named survivor, the amount is split equally .
500 rupees a month is paid to widows aged 60 or older; 200 rupees for each child, up to two children .
1974 (employer - provided medical benefits), 1992 (labor law), and 1993 (labor regulations) .
must have worked for the employer for at least one continuous year before the incapacity began .
50% of the employee' s wages is paid for up to 15 days a year .
100% of the employee' s wages is paid for 52 days before or after childbirth for up to two births (may be paid for more than two births if the children do not survive) .
a lump sum of 500 rupees is paid in tarai, 1, 000 rupees in hill regions, and 1, 500 rupees in mountainous regions to cover the cost of transportation to health facilities .
up to 15, 000 rupees or 50% of medical expenses, whichever is lower, is reimbursed for standard treatment; up to 35, 000 rupees or 50% of medical expenses, whichever is lower, for critical care .
additional free health care services are provided to persons aged 75 or older and persons assessed as disadvantaged, destitute, underserved, with a physical or psychological disability, or living in certain remote, mountainous regions, or designated low human development districts .
50% of earnings (100% if hospitalized) is paid from the first day of incapacity for up to a year .
an approved doctor assesses the degree of disability, according to a schedule in law .
a lump sum of five years of the insured' s earnings is paid for a total disability (100 %) .
partial disability: a percentage of the total disability lump sum is paid according to the assessed degree of disability .
an authorized doctor assesses the degree of disability, according to a schedule in law .
1, 800 rupees to 2, 400 rupees, depending on the insured' s earnings, is paid for up to two children younger than age 18 if the insured is assessed with a total incapacity for work due to a work - related injury .
a lump sum of three years of the deceased' s earnings is paid to a dependent survivor .
1, 800 rupees to 2, 400 rupees, depending on the deceased' s earnings, is paid for up to two children younger than age 18 if the deceased died from a work - related injury .
labour and employment promotion department, under the ministry of labour and employment urltoken enforces the law .
note information below has been extracted from: > > epfnepal. com. np < < visit it for more .
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3. applicability of the actapplicability of the act to every factory employing 20 or more persons. any establishment to which the act applies shall continue to be governed by the act even if the number of persons employed therein at any time falls below .
8. contributioncontribution 1. employee: not required 2. employer: (a) 8. 33% on basic + da it is to be noted that where the pay of the member exceeds rs. 6, 500 / - per month, the contribution payable by the employer will be limited to the amt. payable on his pay of rs. 6, 500 / - only .
12. formalities under epf actformalities under epf act . to facilitate the employer to make the above contribution a consolidated challan (in quadruplicate) is made in which all the above contributions could be remitted one challan itself .
17. compliances under epf & mp act, 1952compliances under epf & mp act, 1952 rpfc officewhen new recruit13transfer of pf a / c6. after 5 years of membership 31advances for various purpose8. rpfc officeat the time of leaving the service 19, 10c & 10d final settlement7. rpfc officebefore 30th of april3a & 6aannual return & reconciliation statement 5. remark / submitted to compliance dateform no. type of compliancesr. no .
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employees provident fund ( nepali : कर्मचारी सञ्चय कोष ) nepal is the pension fund/provident fund for employees of government and private sector of nepal . the fund is currently managing provident funds of 500,000 employees working for the government and in the private sector . the fund also invests in different sectors like infrastructures and hydroelectricity . the fund distributes its profit among depositors . currently employees are required to contribute 10 % of their basic salary ( i.e. excluding bonuses ) with an equal contribution from their employer to their provident fund . 
employees provident fund (nepali: कर्मचारी सञ्चय कोष) nepal is the pension fund/provident fund for employees of government and private sector of nepal. the fund is currently managing provident funds of 500,000 employees working for the government and in the private sector. the fund also invests in different sectors like infrastructures and hydroelectricity. the fund distributes its profit among depositors. currently employees are required to contribute 10% of their basic salary (i.e. excluding bonuses) with an equal contribution from their employer to their provident fund.
employees provident fund (nepali: कर्मचारी सञ्चय कोष) nepal is the pension fund/provident fund for employees of government and private sector of nepal. the fund is currently managing provident funds of 500,000 employees working for the government and in the private sector. the fund also invests in different sectors like infrastructures and hydroelectricity. the fund distributes its profit among depositors. currently employees are required to contribute 10% of their basic salary (i.e. excluding bonuses) with an equal contribution from their employer to their provident fund.