1. What does SINPF stand for?
SINPF is the acronym for the "Solomon Island National Provident Fund".
2. What is SINPF?
The Solomon Island National Provident Fund (SINPF) is a Social Security Scheme established in 1976 following an Act of Parliament, Solomon Islands National Provident Fund Act 1973.
3. What is a monthly contribution schedule?
A monthly contribution schedule is a detail listing of all employees’ names, membership numbers, contribution amounts, employer name, employer’s current address and employer number or code.
4. What is the core purpose of the monthly contribution schedule?
Provides detail breakdown of individual member contributions and membership numbers whereby NPF can use to credit or post contributions to correct accounts and persons.
It is very important that the monthly contribution schedule is completed accurately before making submissions to NPF cashier with payments.
5. What will happen if the employer doesn’t submit the monthly contribution schedule when making payment?
No contributions will be credited or posted to individual employees accounts of the paying employer for a particular month.
Employees contribution accounts are not updated because of non submission of contribution schedules, members are likely to loose out on the FY interests declared and paid by NPF.
Considering such negative implications, it is very important that all contribution payments made must accompany the corresponding monthly contribution schedule.
6. How many types of contribution schedule templates are currently available for use by employers? And what are they?
There are two. The first one is the Form A contribution schedule and the second one is the Electronic Data Interface or EDI for short.
Both serves the same purpose – Provides employer and member contribution details as well as the period contribution is paid for