Unveiling the Dynamics of Nepal’s Contribution-Based Social Security: A Legal Perspective

Abstract

A contribution-based social security system is one of the forms of social security measures where an employer, employee, or individual (selfemployee) contributes financially to fund social security benefits. Nepal’s social security landscape is undergoing a significant evolution because of the enactment of the Social Security Act of 2018 and the Contribution-Based Social Security Act of 2017. However, this article aims to delve into the legal framework underpinning Nepal’s Contribution-Based Social Security, unravelling its intricacies and implications. By analyzing the governing legislation, this article examines the structure, mechanisms, and dynamics of Nepal’s Contribution-Based Social Security regime. It explores the roles of various stakeholders, such as employers, employees, self-employees, and regulatory bodies, in implementing and managing the system. Additionally, the article scrutinizes the challenges and benefits inherent in Nepal’s transition towards CBBS, addressing issues of inclusivity, sustainability, and compliance. Through a comprehensive legal perspective, this article contributes to a deeper understanding of Nepal’s evolving social security paradigm, particularly of Nepal’s contributory workforce.