Social Premium Parental Leave

  • Modified on: Tue, 28 Feb, 2023 at 6:07 PM

The Parental Leave Provision Fund (FVO) levies this mandatory premium to fund paid parental leave. Paid parental leave includes: 16 weeks of paid maternity/birth leave for the working mother and 8 days of paid paternity leave for the working father.

As of March 1, 2023, a new social premium will therefore be applied in Celery Suriname. This premium has been added under tab employee / taxes and premiums. The designation is: FVO.

By default, the premium amounts to the following:

Employer contribution minimum 0.5% of gross pay (wage codes 10 and 20)

Employee contribution maximum of 0.5% of gross pay (wage code 10 and 20)

Total premium therefore 1%, and the employer may take it in full.

The following Payroll codes and general ledger accounts have been created for this purpose:

LC 670 - general ledger code: 4032 FVO employer contribution

LC 675 - ledger code: 1832 FVO total premium (employer + employee premium)

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