Jun 21, 2024

Agreement between IME and Social Security Fund

Agreement between IME and Social Security Fund

IME and the Social Security Fund have reached an agreement.

These two have agreed to provide the service of collecting monies from contributors overseas in order to contribute to the social security fund under the social security system of workers in foreign employment and self-employed persons abroad.

The agreement letter was signed by Social Security Fund Executive Director Kapilmani Gyawali and IME Chief Executive Officer Khilendra Paudel.

Following the execution of the agreement, foreign workers and self-employed persons overseas can deposit the contribution amount into the fund through IME counters and partners situated abroad.
Paudel, Chief Executive Officer of IME, stated that procedures will be made soon in accordance with this agreement so that millions of Nepalis residing abroad can easily gather monies to donate to the fund.

According to Chief Executive Officer Poudel, the fund would also aid in the promotion of the social security plan for international workers and self-employed people working overseas.

Executive Director Kapilmani Gyawali voiced his belief on behalf of the Social Security Fund that because IME and its partners have a global network, it will be simple to enhance participation in the fund's programs and distribute monies to people who contribute to the fund.

On behalf of IME Limited, Director of Fund Roshan Koju and Business Development Manager Shyamakrishna Khakurel were also present at the contract signing ceremony.

Previously, the fund had arranged for foreign workers and citizens who are self-employed abroad to participate in the social security scheme by contributing at least 21.33 percent of the government of Nepal's minimum basic salary, which is currently a minimum of 2000 per month and a maximum of three times the minimum basic salary.