Announcements

Salary Increase (Cost of Living Allowance) / NSSF memo

A New memo from NSSF department number 686 dated 06 June 2022 was issued to clarify some points in Decree No. 9129 dated May, 19 2022 as follows:

First: As of 1/4/2022 and to calculate the NSSF subscriptions for companies: 

  1. An amount of 1,325,000 LBP must be added to minimum official salary in order to be 2,000,000 LBP.
  2. An amount of 1,325,000 LBP must be added to, the basic salary of employee, that was paid on 1/3/2022, and his/her salary doesn’t exceed 4 million LBP.
  3. An amount, as per employer decision, must be added to the employee, which his/her salary exceed 4 million as of 1/3/2022.
  4. An amount of 61,000 LBP must be added to minimum official daily salary in order to be 91,000 LBP
  5. An amount of 61,000 LL is added to the daily wage, for wages that does not exceed the amount of 182,000 LL per day.
  6. An amount, as per employer decision, must be added to the daily employee, which his/her daily salary exceed 182,000 as of 1/3/2022.
  7. Difference in NSSF subscriptions for April that were resulted from the above, must be paid in separated schedule "code 33” and no penalty will be allowed until end of June.

Second: As of 1/4/2022 and to calculate the NSSF subscriptions for companies:

  1. The ceiling amount of Sickness and maternity subscription will be 3,825,000 LBP instead of 2,500,000 LBP
  2. The ceiling amount of family allowance subscription will be 2,825,000 LBP instead of 1,500,000 LBP

We focus on advice consulting business financials Get a Quote