Acrede Accolade October 2013 Oct. 2013 | Page 13

Provident Fund Benefit The Social Security Program is the basic protection for workers who aim to ensure the security and assurance of social and economic risks. The program is the guarantor of the current means of receiving income for workers and their families, resulting from the occurrence of social risks in financing, affordable by employers and employees. Socio-economic risks addressed by this program are limited during the times of accident, illness, pregnancy, maternity, disability, old age and death, which result in reduced or cut off labour income and / or require medical care of the Implementation of Social Security. Old Age Security Program (JHT, Jaminan Hari Tua) The Old Age Security Program is intended as a substitute for labour income due to disconnection of death, disability or old age. The Old Age Security Program provides assurance that revenue receipts are paid at the time an employee reaches the age of 55 or has fulfilled certain requirements. Old Age Security Program contributions are 3.7% for company contribution while 2% for charged labour. Health Care Benefit (JPK, Jaminan Pemeliharaan Kesehatan) Death benefit (JK, Jaminan Kematian) JPK is one of the Social Security programs that helps employees and their families cope with health problems. Ranging from prevention, care at health clinics, hospitals and treatments, all provided effectively and efficiently. Any labour that has followed the JPK program will be given a KPK (Health Care Card) as proof of identity to get health care. Death Benefit is for the heirs of the Social Security program participants who died for a reason other than work accidents. Death collateral is required for alleviating the burden of families for funeral expenses and compensation in the form of money. Employers are obliged to bear the tuition guarantee program for 0.3% of deaths where a guarantee of death was given as IDR 21 million, consisting of IDR 14.200.000 in compensation for the death, compensation for funeral costs at IDR 2 million and further periodic compensation. JPK dues paid by the company are: • Three percent (3%) of wage labour (max USD 1 million) for single workers • Six percent (6%) of wage labour (max USD 1 million) for family labour • Basic calculation of the percentage contribution from wages as high as Rp 1.000.000,- Work-Related Accident Benefit (JKK, Jaminan Kecelakaan Kerja) Accident, including diseases caused by work is a risk that must be faced by most workers. To overcome the loss of part, or all, income caused by the existence of social risks such as death or disability due to accident, the guarantee of work accidents is needed. Health and safety of workers is the responsibility of employers, so employers have an obligation to pay a guarantee fee, which ranges from workplace accidents, 0.24% - 1.74% depending on the type of business. As mentioned earlier, there are frequent changes in the labour laws and regulation and because of this, workers’ compensations are affected. Furthermore, these changes present challenges in keeping the workers’ compensation up to date. Payroll information systems are a great tool in keeping up with the changes in the workers compensation as it is user-friendly, efficient and provides assurance on compliance to the ever changing labour laws and regulations. Employment Accident (JKK) provides compensation and rehabilitation for worker s injured at the times between when they left to go to work until arriving back at home, or if an employee suffers from illness due to the employment. Contributions for JKK are fully paid by the company. Accolade OCTOBER 2013 13