Expansion of Social Security Contribution Payment DeadlineSeptember 1, 2021
The Myanmar Social Security Law requires an employer with more than five employees to contribute to the social security scheme. Contributions must be made to the relevant township social security board within 15 days of the end of each month. Employers who fail to meet the contribution deadline are subject to a late payment penalty.
On 20 March 2020, the Ministry of Labor, Immigration and Population(“MOLIP”) issued Notification 63/2020 to extend the payment deadline for social security contributions from 15 days to three months after the relevant month-end.
In light of the current COVID-19 situation in Myanmar, MOLIP issued another notification (no. 341/2021) on 6 August 2021 to help businesses affected by the COVID-19 outbreak. According to Notification 341/2021, the payment deadline for social security contributions has been expanded from three months to six months after the relevant month-end. The new deadline is effective beginning with social security contributions for May 2021.