Julius Hardware Limited suffered economically and over the last 2 years has steadily lost most of its workers and currently, he has only 3 workers left including himself. All these years, it has been law-abiding and was even paying NSSF. The finance officer wants to know if they are supposed to continue making these payments now that the business has fallen so low.
WHAT DOES THE LAW SAY?
Before the NSSF amendment, the law required that employers with 5 or more employees register and remit contribution on their behalf. However, with the 2021 NSSF Amendment Act, the law now requires that every employer regardless of the number of employees they have has to continue to make contributions on behalf of all the remaining employees.
It is now mandatory for all employers to make contributions on behalf of their employees.
There was also an option for the employer to be deregistered for NSSF in case they now had a smaller number of employees than required. However, because of the new law, employers have to pay NSSF for all employees so they can no longer deregister with NSSF for this reason.
📷: Daily Monitor
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