From now on, Nepalese living abroad can pay their social security fund (SSF) contributions from abroad via mobile banking. This becomes possible after an agreement between Fonepay and SSF, which is targeted at benefiting Nepali citizens living and working abroad.
The agreement papers were signed by Mr. Paras Kunwar, Chief Operating Officer of Fonepay, and Mr. Kabiraj Adhikari, Executive Director of the Social Security Fund. The program had the presence of senior officials from both entities.
According to Fonepay, the service called the Fonepay Bills platform is already live now. It allows Nepali migrant workers abroad to pay their social security fund contribution from all mobile banking apps provided by Nepali banks and financial institutions (BFIs).
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What’s said on the facility for migrant workers to pay their social security funds (SSF)?
Mr. Paras Kunwar, COO of Fonepay, shared, “With Fonepay’s broad reach in mobile-based financial services, this collaboration is expected to greatly benefit Nepali migrant workers by providing a convenient way to contribute to the Social Security Fund. Moreover, it encourages the use of formal channels for remittance transfers.”
Adding to this, Mr. Kabiraj Adhikari, Executive Director of SSF, stated, “This collaboration aligns with the Social Security Fund’s vision of ensuring financial security for every Nepali worker, regardless of where they are. By enabling mobile banking-based digital contributions through Fonepay’s network, we aim to simplify the process, enhance accessibility, and strengthen the connection of our migrant workforce with Nepal’s social protection system.”
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Social Security Fund is a contributory system that seeks to ensure health care and income security. It ensures protection for maternity, sickness, old age, etc. And ability for migrants to pay their SSF from abroad means more citizens are covered in this generous financial system.