Business News of 2014-07-04

Social security defaulters fined

Four employers who have either not registered their companies or paid their employees contributions to the Social Security and National Insurance Trust (SSNIT) have been arraigned before the Wa Magistrate Court in the Upper West Region.
They all pleaded guilty and were fined GH¢100 each and ordered to make good their default within a week.
They are Gyisogu Enterprise, Mukas Enterprise, Uncleco Enterprise and Nash Monash Company, all Wa based.
Bench warrants were also issued against eight others who failed to appear before the court.
They included Mogtar Hamid Enterprise, Seidu Rahaman Enterprise Dresco Enterprise and Enazif Links.
The rest are Halklin Enterprise, A. D. Yakmas Enterprise, Light House Chapel International and Sunnima Enterprise, all Wa based.
Prosecuting, a SSNIT official in charge of the Tamale area, Mr Wedjong Ireneus, expressed concern that a lot of employers were not complying with the law as established under the National Pension Act of 2008 (Act 766).
He said that was the reason for an exercise to retrieve arrears from all defaulting firms and ensure that they were duly registered with SSNIT.
The Wa Branch Manager of SSNIT, Mr Henry Imoru, noted that this was a nationwide exercise to retrieve all arrears from defaulting firms and organisations.
He, therefore, warned organisations to endeavour to pay or register their companies, since the law would surely catch up with them.
He emphasised that all legitimate means would be used to retrieve arrears.
In his ruling, the Presiding Judge, Mr John Ayivor, said he was lenient with the defaulting firms, since they were first offenders.
He cautioned them to pay their workers contributions promptly because that was their ‘cushion’ for the future.