Real Estate Companies urged to pay deductions
July 6, 2018 5:03 am
According to the Fiji National Provident Fund, real estate companies who do not comply with the mandatory ten percent FNPF deduction payments backdated to 2012 will be taken to task.
FNPF Chief Executive Jioji Koroi says their legislation under the necessary FNPF deduction scheme is strict and if not adhered to can be costly for the companies.
He says companies can go to FNPF branches and verify, calculate and register debts that they need to pay their employees.
“Our legislation is quite stringent on what can be done. We can take directors to court, we can prevent them from going abroad, but we don’t want to take these measures. We encourage companies to understand the situation and we encourage them to come and work with us.”
Meanwhile, the President of the Real Estate Association Vyas Deo Sharma says companies were not aware of the legislation which is why FNPF deductions were not paid and have since lagged behind in the last six years.