The Fiji National Provident Fund is urging Employers to contact the Fund if they need assistance with completing the newly formatted Contribution Schedule (CS) forms.
Chief Executive, Mr Aisake Taito said FNPF will assist employers who are not familiar with these CS forms.
“It’s important that these Employers voluntary come forward for assistance. We have an obligation to ensure that they know how to fill these forms to avoid hefty penalties which FNPF will soon enforce on late submissions of these forms along with the contributions as specified under the FNPF legislation,” he said.
Mr Taito said Employers have a duty to ensure that the data/records provided in the CS forms are accurate. This is a condition that must be met before the contributions are posted to member accounts.
The following are some common inaccuracies that employers continue to make when submitting the contribution schedule forms;
Submission of incorrect TIN numbers
Employees details carrying incorrect FNPF Numbers
Incorrect salary information e.g. total gross income of employees
Employers paying incorrect FNPF contributions (e.g. employers – 10%, Employees – 8%.This means that the employer must remit 18% of the employees’ total wages every month)
He said inaccuracy of information submitted to the Fund has resulted in delays when it comes to directing members’ contribution. It has also led to increase in employees’ contributions being directed to the Fund’s suspense account.
The suspense account holds these funds and do not earn interest. Members funds in this account is directed to individual members’ accounts once missing or incorrect details are verified and corrected.
Mr Taito therefore urge members to continuously check their FNPF accounts to ensure that their contribution have been directed into their FNPF account.
“Members need to also take the initiative to verify and update their personal details and not wait to verify their details when they apply for assistance. Members can verify and update their personal details at any FNPF office near them.
“We need to all work together in ensuring that data submitted to the Fund are accurate as this would further safeguard our members’ interest and would also ensures that members are able to receive timely services when accessing their funds,” Mr Taito said.