Compliance and Contribution Collection
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Social Security Agency (18.04.2020) On April 18 and May 15, Poland's government amended its Anti-Crisis Shield (Tarcza Antykryzysowa) program to expand eligibility for temporary social security contribution reductions. Under the amended program, employers with 10 to 49 employees as of February 29 can receive a 50-percent reduction in the contributions they owe for March, April, and May.
KPMG Global (01.05.2020) To reduce costs and improve cash flow immediately, social security contribution rate will be reduced with 4 percent of the total contribution rate of 14.1% assumable for the salary payments in May and June. Some areas in Norway pay 0%. These areas will receive a subsidy equal to 4 % of the employer social security contribution base.
conomictimes.indiatimes.com (15.06.2020) The Employees' Provident Fund Organisation (EPFO) will reduce its EPF contribution rate from 12 per cent to 10 per cent for both employers and employees for the months of months May 2020, June 2020 and July 2020. It is applicable to all class of establishments covered under the EPF & MP Act, 1952 except the establishments like Central and State Public sector enterprises or any other establishments owned or controlled of the Central govt or State govt.The reduced rate is also not applicable to establishments eligible for PMGKY benefits, since the
KPMG Global (27.05.2020) Reduction in the penalty for late payment of social security contributions payable by employers in the amount of 24.8 percent of their employees’ wages (employer’s contributions) for the calendar months of May to July 2020. If the contributions due for these months are paid by 20 October 2020, the employer will be required to pay only 20 percent of the standard penalty for late payment stipulated by the Insurance Premiums Act.2 The reduced penalty will thus correspond to approximately 4 percent interest rate per annum.
OFFICIAL BULLETIN REPUBLICA ARGENTINA - General Resolution 4788/2020 (04.08.2020) The postponement or reduction of up to 95% of the payment of employer contributions to the Argentine Integrated Pension System. Certain employers will enjoy the benefit of postponement of the expiration date for the payment of employer contributions to the Argentine Integrated Social Security System for the period accrued in March, April, May, June and July 2020.
a) Accrued in March 2020: from June 9 to July 31, 2020, inclusive.
KMPG (15 March 2020) Modified social security rules are to apply for the period of March-June 2020 for certain sectors—the hospitality and tourism sector; entertainment, film industry, and performing art sector; the sport services sector; the event organization sector; and the gambling section. The changes provide that employers in these sectors will not be liable to pay the employer part of social security contributions (17.5% + 1.5%) with respect to employment income paid to employees for the period March-June 2020.
koreaherald.com (11.04.2020) Foreign subscribers of South Korea’s national health insurance are eligible for premium assistance in a COVID-19 bailout, the state health care service said Saturday. From July 16, 2019, foreign residents staying over six months are required to enroll in the national health insurance plan. Previously, the subscription was optional for those staying longer than three months. As of last year, the number of foreign subscribers to the national health insurance plan reached 1,212,475.
koreaherald.com (11.03.2020) The National Health Insurance Service said the lower 20 percent of the income bracket will receive about 30 to 50 percent reduction in premiums from March through May. For the worst-affected Daegu and North Gyeongsang Province’s Gyeongsan, Cheongdo and Bonghwa, the bottom half of income earners will be given the partial premium waivers. The lowered payments are a part of Korea’s disaster relief subsidy plan announced March 30 to cushion financial blow from the outbreak for the financially vulnerable.