Social security: the court supports bank employees

 Social security: the court supports bank employees   

  The Supreme Court has made a preliminary ruling on social security funds applied by employees of 22 banks and trade unions.     After four days of uninterrupted hearings, the plenary meeting made a preliminary ruling in favor of the staff. The employee's request for the social security fund is voluntary. However, this is not the final order.  

 After five consecutive hearing days, after arguing at the joint meeting, questions were raised in the plenary meeting. The joint court of judges Tej Bahadur KC and Bamkumar Shresta disagreed. , workers voluntarily applied for social security. KC decided to issue an injunction in this case, and Shresta decided not to issue an injunction. After the two disagree.  The courts of Anil Kumar Sinha, Kumar Chudal and Nahakul Subedi have decided to issue an injunction. It is reported that the fund was registered in mid-July last year.   

The staff called on the foundation to volunteer, claiming that their confessions were obtained under torture.The government said that this should be required by law.  Those who registered in mid-July have the opportunity to receive funding when they retire. If you register on July 20, you plan to transition to retirement. Bank employees are reluctant to join the fund even if they receive decent remuneration in terms of good salaries and social security. 

  There are currently 27 commercial banks. Among them, according to the decision of the Minister of Finance, three state-owned banks (Agricultural Bank, Rastriya Banijya Bank and Bank of Nepal) cannot use the fund.   The private sector of Standard Chartered Bank and Laxmi Bank joined the fund. After submitting the case, Nepal SBI Bank also registered with the fund. This case has been challenged in court by unions and employees of 21 banks. , workers protested the fund for two months, saying that the fund had implemented the fund. Bank employees make a big fuss across the country. 

There is an agreement to donate 31% of each employee's amount to the fund. Among them, 10% of employees must make contributions in the form of reserve funds, and 1% of employees must make contributions in the form of social security contributions. From this amount, 19% of the employer’s registration amount, 10% of the tip, 8.33% of the tip, and 1.67% of additional donations are paid to the reserve fund. , bank employees now receive the full amount at once, whether on holiday or in dismissal, the day after get off work, but when they enter the fund, they must reach the retirement age of 60. ...If you quit your job at the age of 50, you can only receive your pension after a 10-year waiting period, that is, after you reach 60. You will not receive a one-time payment.  

 Lawyer Deepak Shresta took the initiative to initiate a class action against the social security funds of 22 bank clerks and employees.    According to the fund's subsidiary fund, 273,728 employees joined the fund in mid-July. The fund provides a choice of pension or pension funds for employees who joined in mid-July, even though the fund has 9 commercial banks. Only three people started donating to the fund.  

The subsidiaries are three development banks. Of the 13 financial subsidiaries, 9 have already started trading. There are 46 microfinance affiliates. Of these, 18 have already started trading. Of the 34 insurance companies, 13 have started trading.   A total of 105 affiliated banks and financial institutions and 43 have started donating. Most companies are already affiliated companies. Including Chowdhury Group, Nepal Dabur, Unilever, KL Dugad Group, Fvan Soft Company, Ncell.