Kathmandu. Bank, insurance and financial sector employees have put forward a 12-point condition for joining the social security fund. He said that the union was dissatisfied with the attitude of the fund as the fund had moved ahead unilaterally without any hearing on the issues raised by the employees of banks, insurance and financial institutions.

Contrary to the provision in Article 34 (3) of the Labor Act that the services provided to the employees cannot be reduced, the provisions of the Social Security Procedure have maintained that the benefits provided by the employees should not be reduced or fully deducted by the Social Security Act.

The union has demanded that the provision in Article 64 of the Contribution-Based Social Security Act be amended to curtail the right to collective bargaining guaranteed by the ILO Convention 1949 (No. 98), the Constitution and the Labor Act, 2074 BS.

In addition, according to Sections 52 and 53 of the Labor Act, the amount of provident fund and allowance in other approved retirement funds established by law should be transferred to the Social Security Fund on the one hand. If the workers do not want to do so, they can take the payment themselves or keep the amount in other retirement funds in the same fund. They also demanded that the existing double taxation burden be abolished.

The association has demanded that the provisions mentioned in the Social Security Fund based on the contribution of government employees in the Retirement Fund Act, 2075 BS should be made applicable to all the contributors affiliated to the Social Security Fund.

Arrangements should be made to apply to all contributors to the Social Security Fund. The association stipulates that the provisions in the social security scheme operation procedure should be amended and included in the contribution-based social security act.