Karmachari Sanchya Kosh is an organization to manage the provident fund. Karmachari Sanchya Kosh works for the welfare of the employee. Similarly, Employee Provident fund also known as EPF Nepal. There are several facilities for the depositors of EPF Nepal. At the same time there are different schemes of EPF Nepal.
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Table of Contents
Karmachari Sanchya Kosh Employee Provident Fund
What we [Karmachari Sanchya Kosh Nepal] do???
We manage 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 management, we also provide the following social security benefits:
- Accident Indemnity
- Funeral Grant
- Employees Welfare Scheme (Insurance)
- Participation in Profit
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Members and Membership Base
Employees from state owned institutions attain automatic membership to KSK. These include personnel from the army and police, civil servants, state owned corporations, and government school and colleges.
So, around 28,000 offices contribute to KSK and the present membership base is 4, 66,000 individuals (2012 November data).
Membership to KSK is also open to private sector firms with the only condition that such firms should have at least ten employees contributing regularly to become a member.
Objective of Karmachari Sanchya Kosh Employee Provident Fund
Hence the primary objective of KSK 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.
Also related other objectives of KSK are:
- To mobilize the savings received through the compulsory provident fund contributions on the part of employees and employer.
- And to extend the coverage so that a larger section of the organized sector employees, who have yet not been covered, can be brought under the KSK umbrella with a view to benefit them.
- Generate maximum return on the investment for the benefits of the members.
- To undertake activities that can provide social security to the members.
- And to conduct research activities and to explore welfare schemes which, can benefit the members at large.
Beside this the karmachari Sanchaya Kosh do so many other activities for the welfare of depositors. Finally EPF is the best friend of all employee.
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