The Fiji National Provident Fund Board has approved a relief package for employers that will be effective from January 2020 until June 2021.
While more details on this relief package for employers is set to be announced next week, CEO Jaoji Koroi has revealed that it will consist of a waiver of penalties, time payment arrangements, and relaxation on third party payments.
On the waiver of penalties, Koroi says these are penalties on late payments for employers and they will relax this to help the employers as they are facing a lot of difficulties.
FNPF Chief Financial Officer Pravinesh Singh says there would also be extended time payments for up to 12 months.
Singh says in the last 2 months they have seen close to 1,600 employers not pay up on time.
He says this relief package is for employers in this category.
Singh says employers that will need to be assisted will have to come to FNPF where some sort of arrangement will be worked out.
He says these employers that want to be assisted through the relief package will have to pay something upfront and they will get relief on the penalty but will be given some time to pay.
Specific details on the FNPF relief package for employers will be released next week.
Stay tuned for the latest news on our radio stations