Workforce savings fund unveils fresh initiatives
Karmachari Sanchaya Kosha: A Comprehensive Overview of Financial Services and Social Security for FY 2076/77
In the financial year 2076/77, the Karmachari Sanchaya Kosha (Employees' Provident Fund) offered a variety of financial services and social security schemes to its contributors. The total resources of the fund stood at Rs. 387.15 billion, with a reserve fund of Rs. 350.60 billion.
Educational Loans and Home Mortgage
For those seeking educational financing, the Karmachari Sanchaya Kosha provided loans ranging from Rs. 1 million to Rs. 2.5 million, with an interest rate of 8.50%. Home mortgage loans, on the other hand, offered up to a maximum of Rs 10 million, with interest rates ranging from 8.50% to 8.25%. Home maintenance loans also provided a maximum of Rs. 25 lakhs with the same interest rate.
Savings Loans and Special Loans
The savings loan scheme, benefited Rs. 84.3 million to 15,903 savers in FY 2076/77, due to the Covid-19 interest discount. The Special Loan, which allows borrowing up to 80% of the Savings Fund Amount, came with an interest rate of 8.25%.
Retirement Fund, Provident Fund, and Accumulator Health Care Scheme
The Employees' Provident Fund serves as a retirement fund, with a profit of 15 percent on Provident Fund and Retirement Fund. The number of individual contributors to the retirement fund was 0.628 million, and the retirement fund for the financial year 2076/77 was Rs. 0.47 billion. The Accumulator Health Care Scheme provided health coverage up to Rs. 1 lakh and a maximum of Rs. 1 million.
Social Security Schemes
The Maternity and Child Care Program offered Rs. 7500 per delivery, while the Accident Compensation Scheme provided Rs. 2 lakh for ceremonies. A financial grant of Rs. 40,000 was also provided under the Grant scheme.
Branch Offices and Contact Information
The Karmachari Sanchaya Kosha has branch offices in Biratnagar, Janakpur, Hetauda, Pokhara, Butwal, Kohalpur, Surkhet, and Dhangadhi. Service Centers are located in Dhankuta, Singha Durbar, and Pulchowk. The contact details for the Employees' Provident Fund are: Karmachari Sanchaya Kosh, Pulchowk, Lalitpur. Phone No .: 01-5010165, 01-5010166. Website: www.epfnepal.com.np. The Karmachari Sanchaya Kosha has central offices in Pulchowk, Lalitpur and Thamel Office in Tridevi Marg, Thamel.
Application Procedures and Job Vacancies
While there were no specific details about new schemes or social security features announced by Karmachari Sanchaya Kosh for the financial year 2076/77 in the provided search results, there were job vacancy notices and application procedures for different posts at Karmachari Sanchaya Kosha in 2081 BS (around 2025 AD). However, these resources do not mention schemes or social security features for 2076/77. For detailed information about the schemes or social security features for that financial year, further specific resources or official announcements from Karmachari Sanchaya Kosha would be required.
[1] Source: Search results from various online resources as of March 2023.
It seems there was no specific information about personal-finance schemes or services for individuals in the financial year 2076/77 detailed in the provided text. However, the Karmachari Sanchaya Kosha offered various financing options such as educational loans, home mortgage loans, savings loans, and special loans during that period.
In the future, job vacancies and application procedures for different posts at Karmachari Sanchaya Kosha may provide opportunities for individuals seeking employment in the finance and business sector.
