Employer Additional Contribution
Any responsible employer, would reward, retain and encourage his/her people to perform better.
An excellent reward idea is to invest into their FNPF savings through Employer Additional contributions. That means you pay more than what is mandated by law – it can be by an additional 2% or 5% or $50 per pay.
Currently, the mandated employer contribution is 7%.
Benefits of Additional Contribution
- Be an employer of choice – paying a little bit extra for your employee’s through additional contribution will not only retain existing employee’s but also attract new talents and make you an employer of choice.
- Pay more & Claim 150% tax rebate. Employers can claim 100% tax rebate for contributing 7% as employer contribution. Employers contributing more than the mandatory 7% employer contribution can claim for 150% tax rebate on the excess for a taxable year.
- As part of the company’s employee recognition program, you can pay additional contribution as a one-time benefit. This will motivate your staff to be more productive.
- Invest in Fiji’s biggest financial institution.
From 1 January 2023:
1) the mandatory FNPF contribution will be increased from 6% to 7% for employers & employee’s
2) employer contribution exceeding the 7% mandatory FNPF contribution up until 10% will be allowed a tax deduction of 300% of the excess.
How can you submit employer additional contribution?
The additional amount that you intend to pay must be indicated on the Contribution Schedule form. The amount must be filled in the column “Employer Add Amount”.
The additional contribution is paid together with the mandated contribution at the end of every month.
There is NO LIMIT to the amount that you can pay for additional contribution to your employees.
How can I pay Additional Contribution?
Additional contributions are paid with the normal monthly contribution schedule.
Payment modes are:
- Internet Banking – make payments directly to the FNPF Bank Account Number. In the narration, state the invoice number.
- Direct Deposit at your bank – you can do over the counter deposit at your bank by providing the invoice number.
- FNPF Cashiers – you can pay at any of our offices.
Our Bank Accounts
|Bank Detail||ANZ||BSP||HFC||Westpac||Bank of Baroda||Bred Bank|
|Bank Account No.||1548581||516682||100099719||0018502300||91010100015879||00123697021|
|Address||ANZ House Suva||Ground Floor|
|371 Victoria Parade,|
|Suva Branch, Thomson St Suva||Mark Street,|
|Level 5, Tappoo City,|
For more information, you can email EmployerHelpline@fnpf.com.fj or call us on 3238999.