grenadaidc.com Registering For Social Security To Start Business : Grenada Industrial Development Corporation

Organization : Grenada Industrial Development Corporation
Type of Facility : Registering For Social Security To Start Business
Country: Grenada

Website : http://www.grenadaidc.com/InvestorsGuide/StartingUpaBusiness/tabid/103/Default.aspx#rss

Registering For Social Security :

Every business operating in Grenada is required to register with the National Insurance Scheme within seven (7) days of the commencement of the business operations.

Related : Grenada Industrial Development Corporation Forming a Company : www.statusin.org/8871.html

Registration with the National Insurance Scheme is regulated Act No. 14 of 1983, Cap 205.

Requirements:
Every Employer is mandated by the Scheme to:
** Be registered within seven (7) days of operations
** Ensure that all the employees between the ages of 16 and 60 are registered within four (4) days of employment
** Deduct and pay contributions on behalf of each employee on or before the 14th day of the subsequent month.

Registration Process:
** The employer must complete the employer registration form and submit with a copy of the business registration certificate
** The employee must complete the employee registration form and submit with the birth certificate and any other relevant documents such as marriage certificate, affidavit, deed poll etc.
** Both employers and employees are assigned individual identification numbers.
** Processing time is within one (1) working day.

Required Monthly Contributions:
** 4% contribution deducted from the gross salary of the employee
** 5% contribution of the employees gross salary by the employer

The benefits provided under the scheme:
Long-term benefits:
** Age Pension/Grant
** Reduced Age Pension
** Invalidity Pension/Grant
** Constant Attendant
** Funeral Grant
** Survivors Pension/Grant
** Death Benefit

Short-term benefits:
** Sickness
** Maternity allowance
** Maternity grant
** Employment: Injury

Note: NIS does not pay gratuity age benefits

GIDC Meeting Facilities :
St Patrick’s Boardroom :
Newly refurbished 236 square feet of space, offering privacy and comfort with its boardroom setting. The room houses one 7-foot table and 8 chairs, a screen for projection, overhead projector, both 110v and 220v electricity. There are countertops for the placement of refreshments.

Frequente Conference Room :
A modern and well-appointed facility features 676 square feet of space and can accommodate up to 70 persons depending on the room configuration. The room has an overhead projector and pull down screen. It is also equipped with 110v and 220v electricity, overhead speakers, podium and microphones.

Seamoon Training Room :
The training room is the largest of all three (3) rooms and measures 810 square feet. The room can accommodate up to 70 persons depending on the room configuration. The room offers both 110v and 220v electricity and has male and female washrooms in an enclosed area to the rear of the room.

Contact Us:
Grenada Industrial Development Corp.
Frequenté Industrial Park
St. George’s
Grenada, West Indies

Phone: 1 (473) 444-1033-35
Fax: 1 (473) 444-4828
E-mail: invest AT grenadaidc.com

FAQ :
Who Can Access The Services Offered By The BDC?
Though the BDC focuses primarily on micro, small and medium sized enterprises, any business operating throughout Grenada, Carriacou and Petite Martinique can access the services of the BDC.

What Training Workshops Are Available?
Our Training Schedule provides a list of all the training workshops to be undertaken during the year.

How can I access the BDC’s training?
Call the office or click on our Training Schedule and register now. If there is a particular training that you are interested in that is not on the list then click here

Can The BDC Assist Me In Identifying Problems For My Business?
The BDC assist all businesses in identifying problems in their business by completing a business diagnostics or operational audit.