Registration
Section 11 (1) of NSSF Act. (Cap. 50) requires every registered company under Companies Act, 2002 is required to be registered by NSSF and issued a certificate of registration.
Payment of Contributions
All employers registered by NSSF are required to pay monthly contribution According to Sec. 12 of the NSSF Act [Cap. 50 R.E. 2018] through NSSF Portal.
Employer’s Location v/s Paying Center
Contributions for employers, whose offices are located in more than one region, shall be accounted-for to the NSSF Office where the contribution has been remitted. However, Regional offices should cooperate to ensure that compliance of employers with different branches is maintained.
Rates of Contributions
Every registered employer is required to remit to the Fund 20% of the employees’ WAGE as joint contribution between the employer and employee. The rate of employee’s share should not exceed 10% of his monthly wage under the following arrangement: 10% employer/10% employee, or 15% employer / 5% employee. However, the employer may opt to remit the whole 20% without deducting from employees’ wage.
Penalties
If any contribution is not paid within the period stated under Section 14 sub section (1) of the NSSF Act, a sum equal to five per centum of the amount unpaid shall be added as penalty for each month or a part of a month after the date when payment should have been made and the amount of the penalty shall be recovered as a debt owing to the Fund by the employer.
As employer you’re required to remit contributions within one month from the month of payment of salaries.
HALA Consultants
Certified Public Accountants
info@halaconsultants.co.tz
0752187434
Section 11 (1) of NSSF Act. (Cap. 50) requires every registered company under Companies Act, 2002 is required to be registered by NSSF and issued a certificate of registration.
Payment of Contributions
All employers registered by NSSF are required to pay monthly contribution According to Sec. 12 of the NSSF Act [Cap. 50 R.E. 2018] through NSSF Portal.
Employer’s Location v/s Paying Center
Contributions for employers, whose offices are located in more than one region, shall be accounted-for to the NSSF Office where the contribution has been remitted. However, Regional offices should cooperate to ensure that compliance of employers with different branches is maintained.
Rates of Contributions
Every registered employer is required to remit to the Fund 20% of the employees’ WAGE as joint contribution between the employer and employee. The rate of employee’s share should not exceed 10% of his monthly wage under the following arrangement: 10% employer/10% employee, or 15% employer / 5% employee. However, the employer may opt to remit the whole 20% without deducting from employees’ wage.
Penalties
If any contribution is not paid within the period stated under Section 14 sub section (1) of the NSSF Act, a sum equal to five per centum of the amount unpaid shall be added as penalty for each month or a part of a month after the date when payment should have been made and the amount of the penalty shall be recovered as a debt owing to the Fund by the employer.
As employer you’re required to remit contributions within one month from the month of payment of salaries.
HALA Consultants
Certified Public Accountants
info@halaconsultants.co.tz
0752187434