Penalty Fees apply for certain defaults on behalf of the Employer.
You are required by law to make monthly contributions to CINSF Office in a timely manner before or on the 20th of the month. Failure in doing so will result in a penalty fee as follows:
- A fee of 10% will be added to that month’s contribution for each employee.
- An additional 1% per month will be charged on the outstanding monthly contributions balance until paid in full.
Pay on time to avoid getting penalised.