Kathmandu: The supreme court has relieved the employees of the insurance and bank employees.Now, they will be able to choose the Social Security Fund(SSF) voluntarily.The Supreme Court has issued an interim order stating that participation in the fund is not mandatory but voluntary. A full bench of Justices Anil Kumar Sinha, Kumar Chudal and Nahakul Subedi passed the order.
Employees of 22 banks and unions had filed a case against the Social Security Fund in the Supreme Court demanding an interim order to make the social security fund voluntary.
The Social Security Fund had been creating undue pressure for registration by mid-July. Employees of bank and insurance have been protesting it with the reason for lesser benefits provided by the Fund’s rules.
In this context, the employees of the bank had filed a case in the Supreme Court on 6July 2021.
Although the purpose and essence of the Social Security Fund was positive and good, it was rushed without adequate preparation. Many provisions of the Fund discriminatory and against the interest of the employees, especially the employees of banks and financial institutions and insurance sector. Employees were involved in the agitation after the fund pressured them to make affiliation mandatory.