(A) Form - The National Insurance Board 2025

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The document is a Monthly Contribution Statement form for employers in the Commonwealth of The Bahamas, as part of the National Insurance Act of 1972. It requires employers to report employee contributions, including insurable wages and gratuity wages, for a specific month. The form includes sections for employer and employee details, contribution calculations, and certification of accuracy.

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What is the purpose of the Monthly Contribution Statement?

The Monthly Contribution Statement is used by employers in The Bahamas to report and submit National Insurance contributions for their employees.

How do I edit the document on DocHub?

To edit the document on DocHub, upload the PDF file, use the editing tools to fill in or modify fields, and save your changes.

What information do I need to provide in the Employer section?

You need to provide your employer name, registration number, contact details including telephone and email address, and the number of employees.

What should I include in the Return of Contributions section?

You should include each employee's name, National Insurance number, insurable wage, gratuity wage, and total contributions due.

Is it necessary to complete all fields in the form?

Yes, it is important to complete all fields in the form to ensure accurate reporting of contributions.

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What is the national insurance number equivalent in the US?

In the United States, the Social Security number (SSN) is a nine-digit number issued to U.S. citizens, permanent residents, and temporary (working) residents. Its purpose was to identify individuals for the purposes of Social Security, but it is now also used to track individuals for taxation purposes.

What is the purpose of NIS?

It is administered under the National Insurance Act and offers some financial protection to the worker and his or her family against loss of income arising from injury on the job, sickness, retirement and/or death of the bread winner.

What is the National Insurance Board?

The National Insurance Board (NIB), the organization charged with administering the social security programme, opened its doors officially on October 7, 1974.

What is nib for?

The National Insurance Board provides ten (10) cash benefits, four (4) cash assistances and one benefit-in-kind. The benefits are paid in respect of Sickness, Maternity, Funeral, Retirement, Invalidity, Survivorship, Unemployment, Injury, Disablement and Death.

How much is nib in the Bahamas?

Contributions ContributorCurrent Contribution Rates (To June 30, 2024)New Contribution Rates (As of July 1, 2024) Employee 3.9% 4.65% Employer 5.9 % 6.65%

(A) Form - The National Insurance Board 2025

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What is the purpose of the Monthly Contribution Statement?

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What information do I need to provide in the Employer section?

What should I include in the Return of Contributions section?

Is it necessary to complete all fields in the form?

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What is the national insurance number equivalent in the US?

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