Kathmandu. An agreement has been signed between Citizen Investment Fund and Siddhartha Bank regarding the operation of gratuity and retirement fund. The agreement was signed by Mr. Parbat Kumar Karki, Executive Director of the Fund and Mr. Sundar Prasad Kandel, CHIEF Executive Officer of the Bank.
With the agreement, Siddhartha Bank has transferred contribution-based and non-contribution-based gratuity and other retirement accounts to the fund. At present, about 2,000 employees working in the bank will manage and operate the gratuity and other amount related to retirement.
The current fiscal year 2082. As per the amendment made in the Finance Act 2082 BS, the bank has transferred the retirement fund it has been operating to the Citizen Investment Fund as per the provision of the government’s provision that the retirement funds approved by the Inland Revenue Department should be included in the Citizen Investment Fund and other funds.
The Citizen Investment Fund has also urged the retirement funds approved by the Inland Revenue Department to join the Citizen Investment Fund by mid-July 2083.
