Employee Provident Fund Nepal, also known as Karmachari Sanchaye Kosh Nepal is an organization on the behalf of the government of Nepal to manage the provident fund of the employees of the government, private and public sector by providing financial help on retirement or separations from their jobs under the Ministry of finance. It is an approved retirement fund of the government of Nepal. Even, a private sector with more than 10 employees contributing regularly can get the membership of this fund.
Employee Provident fund Nepal History
Back in 1934, the Army Provident fund was established with an initiative to remove the financial hardship to the army personnel after their retirement. Army personnel had to contribute some specific percentage of their salary to this fund.
Ten years later in 1944, this fund was increased to civil services employees of Kathmandu by establishing a separate organization called Nijamati Provident fund. After four years, it was extended all over the country. In 1959, the Employees Provident Fund department was established under the Ministry of Finance and Economic affairs. Under this fund, both civil services and army personnel along with the police personnel were included.
In 1962, Karmachari Sanchaye Kosh (KSK) act was legislated under which Army Provident fund, Nijamati Provident fund, and Employee provident fund department were merged. Since then, it has been growing and today, it is one of the strong social security providing organizations in Nepal.
Employee Provident fund Members
Employees from the army, police, civil servants, state-owned corporations and government school and colleges get automatic membership to this organization. More than 32000 offices with 466,000 employees have been contributing to KSK. Let us look at the data (November 2012). It has been taken from the official website of Employees provident fund www.web.epfnepal.com.
|Coverage Area||Contributors||Contributing Offices|
|Civil (Government organizations)||81000||3985|
|Nepal Police & Nepal Armed Police||89000||486|
|Private organizations, the corporate sector||97000||2765|
The current rate of PF is 10 % of the monthly salary.
To establish the fund as a social security organization of international standards.
- To establish the fund as Nepal’s reputed social security organization.
- To make the fund as a happy big family of satisfied members.
- To contribute to the economic development of the country.
Function of KSK
The main function of KSK is to manage the provident fund of the member of the employees. Besides, it also provides social security benefits like Accident Indemnity, Funeral grant, Insurance, Participation in profit.
|Branch Name||Branch Head||Contact details|
|Head Office, Pulchowk||Mr. Birendra Mohan Bhattarai (Dept. Chief)|
Contributors services and social security
|Central Office, Thamel||Mr. Kedar Nath Gautam (Dept. Chief)|
Contributors Investment and Recovery
|Branch Office, Biratnagar||Mr. Shanta Gautam|
|Branch Office, Pokhara||Mr. Bishnu Prasad Paudel|
|Branch Office, Hetauda||Mr. Dinesh Kumar KC|
|Branch Office, Butwal||Mr. Toparam Pandit|
|Branch Office, Dhangadhi||Mr. Ram Kaji K.C.|
|Branch Office, Kohalpur|
|Branch Office, Surkhet||Mr. Ram Prasad Lamichhane|
|Branch Office, Dhankuta||Mr. Tej Prasad Khanal|
|Singhadurbar Service Center||Mr. Ram Chandra Pokhrel||01-4200466 [email protected]|