According to the Bank, Insurance and Financial Sector Employees' Association, there is also a difference in the proportion of people who enroll in the national welfare fund.
What you should know
The Bank, Insurance and Financial Sector Employees' Union of Nepal has demanded an end to the discrimination against the various service facilities that the employees get.
In the meeting, from the decision of the Supreme Court on February 2, 2081, banks, insurance And it was discussed that there is a serious challenge in the job security of the employees working in the financial sector and there is an increased possibility of excesses from the management on the employees.
In that context, Article 34 of the Constitution of Nepal 2072 and the Labor Act, 2074 delegate the rights given by the Act on Banks and Financial Institutions, 2073 and Insurance The union has demanded that there should be a provision in the law of the area to review the departmental action covering the content. The
meeting has decided that the tax levied on all types of retirement payments received when the employee retires should be maintained at 5 percent (in case of civil servants, it should be consistent). Government owned banks, insurance And it said that there is a discriminatory system of distributing 5 percent of the profit in financial institutions and 10 percent of the profit in private institutions.
"The constitution of Nepal 2072 envisages that Nepal will be a socialist-oriented state, but there is discrimination in the bonuses distributed to government institutions," the statement of the association states, "Since the International Labor Organization Convention (equal facilities for equal work) and the Labor Act have also been violated, the regulations should be amended to end the discrimination in bonus rates." Budget item no. The association also believes that the provision mentioned in Article 398 is unfair to the employees working in the banking, insurance and financial sectors.
In that point, there is a provision that former employees must be affiliated to retirement funds approved by the Department of Internal Revenue, such as employee savings fund, citizen investment fund, social security fund or retirement fund run by the pension fund. The union demands that the provision should be optional or repealed as the provision affects the service facilities that the employees get when they retire.
"The staff service regulations of all establishments go to the Public Service Commission through the Ministry of Finance and the service facilities that have come from the Ministry of Finance are being regressed, so the common employees are restless," the statement states, "The amendment approval process in the staff service regulations has had a serious impact on the moral development of the common employees."
