The National Social Insurance Trust Fund ensures that all employers of labor comply with the Federal Government Initiative to protect and cater for their employees in the event of work related accidents and injuries by making sure that all employers are duly registered with the fund and are up to date with their contribution and they provide safe working environments always.
Employee Compensation – Employee Compensation is an insurance contributed by employers on behalf of their employees. It is mandatory and collected by the Nigerian Social Insurance Trust Fund (NSITF). NSITF officials regularly inspect organizations for compliance and also proffer still penalties.
Under the provision of the NSITF Act, 1993 all employers of labour in the Private Sector registered under the Companies and Allied Matters Act (CAMA) 1990, either as companies or partnerships, irrespective of the number of their employees or were sole businesses with a workforce of not less than five (5) employees, were required to register as members of the NSITF Scheme and remit their contributions monthly.
At Greystone Solicitors we assist and advise on NSITF compliance