It is nature for human to be sick, getting injured at the workplace, facing unemployment, giving birth and facing the social risks such as death. They are inevitable at some point in everyday life. In the face of these social hazard, some employees who rely solely on their wages end up losing their livelihoods and their dependent families who rely on them have to suffer.
That is why the basic concept of a social security system is to provide free medical treatment and financial protection based on an insurance system.
The following coverage is used to provide the benefit of the Social Security Board (SSB) in Myanmar.
• Health and social care insurance system which includes maternity benefits
• Family support insurance system
• Incapacity to work: elderly pension and survivor benefit insurance system
• Unemployment benefits
• Other social security system (housing project)
• Occupational Injury Insurance System.
It is mandatory for all companies with 5 or more employees to register them for SSB. For an employee of a company to participate in the SSB system, the employee must pay 2% of their basic salary up to a maximum of 6,000 MMK per month and the employers also must pay 3% (2% for SSB and 1% for workplace injury) of the basic salary up to a maximum of 9,000 MMK per month. If an individual such as freelancers and the employees who works in the company with less than 5 employees and wanted to participate, they have to contribute a total of the 4% of their basic salary.
In order to receive any benefits under the SSB program, an employee should have a SSB Card, and those who already have an SSB Card should be aware that their monthly social security contributions are deducted from the basic salary.
Without the SSB Card, employees are not be able to get the above-mentioned benefits. If you have 5 or more employees, we can assist you with the SSB registration process.
If you have any question related to SSB registration and processing or would like to outsource them, you may contact Myanmar Payroll and Outsourcing through the website – https://www.myanmar-payroll-and-outsourcing.com.mm/services/ or email to [email protected].