NATION

Come Forward, Employers Urged

The Fiji National Provident Fund is urging Employers to contact the Fund if they need assistance with completing the newly formatted Contribution Schedule (CS) forms. The Fund’s chief executive officer,
02 May 2015 08:46
Come Forward, Employers Urged
Fiji National Provident Fund chief executive officer, Aisake Taito.

The Fiji National Provident Fund is urging Employers to contact the Fund if they need assistance with completing the newly formatted Contribution Schedule (CS) forms.

The Fund’s chief executive officer, Aisake Taito, in a press release, said FNPF would assist employers who were not familiar with these CS forms.

“It’s important that these Employers voluntary come forward for assistance. We have an obligation to ensure that they know how to fill these forms to avoid hefty penalties which FNPF will soon enforce on late submissions of these forms along with the contributions as specified under the FNPF legislation,” he said.

Mr Taito said employers have a duty to ensure that the data/records provided in the CS forms are accurate.

This is a condition that must be met before the contributions are posted to member accounts.

The following are some common inaccuracies that employers continue to make when submitting the contribution schedule forms;

– Submission of incorrect TIN numbers

– Employees details carrying incorrect FNPF Numbers

– Incorrect salary information e.g. total gross income of employees

– Employers paying incorrect FNPF contributions (e.g. employers – 10 per cent, Employees – 8 per cent.

This means that the employer must remit 18 per cent of the employees’ total wages every month)

He said inaccuracy of information submitted to the Fund had resulted in delays when it came to directing members’ contribution.

It has also led to increase in employees’ contributions being directed to the Fund’s suspense account.

The suspense account holds these funds and do not earn interest. Members’ funds in this account are directed to individual members’ accounts once missing or incorrect details are verified and corrected.

Mr Taito therefore urge members to continuously check their FNPF accounts to ensure that their contribution have been directed into their FNPF account.

newsroom@fijisun.com.fj

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