Page 68 - KDU Law Journal Volume 4 Issue 2

KDU Law Journal Volume 04 Issue II
September, 2024
delivery of social security can encourage and motivate the employer and
self/employee to be members of SSF. For instance, India has codified
nine different legislations in a Code on Social Security, 2020 . It is a
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good reference for a country that has scattered legislation for a purpose.
Also, enhancing social security ‘literacy’ in all sectors of the labour
market is a must. Equally important is focusing on investment and fund
management and strengthening operating standard procedures. The
overlap and legal gap in the Acts, Regulations, and Operating Procedures
are also necessary to short out for overcoming the confusion.
The contribution-based social security protection mechanisms and SSF
have come up with a ‘master plan’ for all economically active individuals
to secure and uplift themself and their dependents’ life; nonetheless, a
‘proper action plan’ is still required to ensure the integrated forms of
social protection.
Conclusion
The concept of social security is evolving and is attributed to its dynamic
nature. As of the ICESCR, the right to social security is the universal
protection for all and is one of the redistributive characteristics. The
individual contributes the skill, energy, and his/her prime productive
time of life for national economic growth and prosperity. In return, the
state is responsible for maintaining social assistance, social insurance,
and social protection to all for addressing the contingencies in the life
cycle of a human being. This notion has encompassed mainly the social
welfare approach and has become a huge challenge for developing
countries like Nepal, having a $1,399 per capita Gross Domestic Product
(GDP). The allowances are for limited schemes like old age allowance,
widow allowance, and allowance for differently abled people. It operates
as a social protection and assistance mechanism using a need-based
approach. Besides these, the employment provident fund and citizens’
investment fund are also in function, which cover only the government
services and formal sector economy to some extent.
55 The Code on Social Security, 2020, No.36 << https://labour.gov.in/sites/default/files/ss_code_
gazette.pdf>>
law.faculty@kdu.ac.lk
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