FNPF gives deadline to employers
June 25, 2019 5:48 am
At the end of this week, the Fiji National Provident Fund will be crediting interest to all members’ accounts.
Chief Executive Jaoji Koroi says if employers do not pay their employee contributions on time, members will lose out on the interest for those due months.
As the 2019 financial year draws to an end – the Fund is urging employers to pay their staff or member’s contributions on time to ensure they do not lose out on the daily interest accruals.
Koroi says despite creating awareness on this issue, they continue to encounter problems with some prominent employers failing to pay the contributions within the due month.
He is calling on employers to fulfill their superannuation obligation to avoid unnecessary penalties.
Under the FNPF Act 2011, all employers must deduct FNPF from member’s wages and remit to FNPF with their employer portion in a timely manner.
Failure to do so may lead to legal proceedings against the employer.