Things employers need to know

Things employers need to know

In this article, I would like to present about the things that employers should know. That is the subject of Compensation Fund

1. Social Security Fund

As for the Social Security Fund, it is applicable in cases where work is not involved. For example, unemployment, sickness, etc., which by the employer must be registered with the employer. And must register for employees to be insured of the Social Security Fund within 30 days, from the time of employment.

2. Workmen's compensation fund

As for the workmen's compensation fund, it can be used in case of sickness. having an accident Until the death, which is a lot from working for the employer Which the employer must register within 30 days, which is also the time since the employee was hired. However, the employer must be the one who pays compensation to the employee only to the Social Security Office. by paying annually

How much money must the employer pay to contribute to the Workmen's Compensation Fund?

Contributions to the Workmen's Compensation Fund The employer must make annual payments only once per year. Payments can be made in two rounds as follows:

- In the 1st time, make a payment in the annual contribution assessment form that the social security has evaluated the numbers for.

- In the 2nd time, make payment according to the assessment notice. It is a contribution statement from the list of payroll jobs. The figures are based on calculations based on the form of the annual contribution statement submitted in February.

Ways to Pay Workmen's Compensation Fund

After you, as an employer, have employees. Let you make the payment of the compensation fund within 30 days within the first year. And for the next year, there will be a payment process of 2 payments during the first 3 months of the year as follows:

- in January The amount of the payment will be based on the amount of wages that the Social Security Administration has assessed for you in advance. And if during the year that the employer has reduced the number or increased the number of employees The employer must report wages actually paid in February. and sent to the Social Security Office one more time in order to be compared

And if in the amount of actual wages in the past year is higher than the estimated wages Additional compensation must be made in March. And if the amount of wages actually paid in the past year is lower than the assessed wages It will make money to compensate for the part that is paid too much back. And if the employer made the payment beyond the time specified. or incomplete payment of compensation The employer must pay a fine of 3% of the salary of the compensation that must be paid, sure enough.

How are you? For those who are employers, do not forget to register the employer and register the employee as well. Hope this article will be helpful for all readers. And see you again in the next article.

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