Ukrainian Obligatory State Social Insurance Fund for Unemployment Cases (hereinafter referred to as Fund) is established to govern the insurance for unemployment cases, to perform charges and accumulations of insurance fees, to control the assets’ usage, to pay off an endowment and provide for social services, to exercise other functions according to the Law of Ukraine on Obligatory State Social Insurance for Unemployment Cases dated March 2, 2000 and to the Fund’s Statute.
Fund is a special-purpose centralized insurance entity, nonprofit self-governing organization. The State is a guarantor for securing of insured persons and providing them with appropriate social services.
Fund’s activity is regulated by the Fundamentals of legislation on Obligatory State Social Insurance, the Law of Ukraine on Public Employment, the Law of Ukraine on Obligatory State Social Insurance for Unemployment Cases and Fund’s Statute which is approved by the Fund’s Board.
Fund’s governing is exercised on an equal base with state, representatives of insured persons and of employers. Board of the Fund and the Executive Directorate exercise the governing of the Fund. The Board of the Fund consists of 15 representatives of state, as well as of insured persons and employers, who discharge their duties on a voluntary basis. The Board of the Fund is headed by the chief elected from the members of the Board of the Fund for two years term alternately from representatives of each party. The Board of the Fund holds its meetings according to approved plan but not rarely than once per quarter.
Executive Directorate of the Fund is the executive body of Fund’s Board that ensures the fulfillment of Board’s decisions. Functions of the Executive Directorate of the Fund are imposed on State Employment Office’s organs. Executive Directorate of the Fund organize the fulfillment of Board’s decisions and ensure the adherence to the Ukrainian legislation on insurance in case of unemployment, acts on behalf of Fund and is accountable to it within the limits and order envisaged in Fund’s Statute.
The supervision over the Fund’s activity is carried out by the Supervisory Board. Supervisory Board controls the fulfillment by the Fund of statute tasks and target usage of Fund’s assets. Supervisory Board consists of 15 persons; representatives of state, insured persons and employers are in equal quantity. Supervisory Board acts on a voluntary basis and is led by the Head. Supervisory Board holds its meetings according to its plan but not rarely than once per quarter.
The sources of forming the Fund’s assets are:
- insurance contributions of insurer-employers, insured persons that are paid on conditions and in order, envisaged in the Law of Ukraine on Obligatory State Social Insurance for Unemployment Cases and in other legislative documents;
- appropriation from state budget;
- sums of financial sanctions applied according to the Law of Ukraine on Obligatory State Social Insurance for Unemployment Cases and the Law of Ukraine on Public Employment, other laws to the enterprises, establishments, organizations and natural persons for violation of an established order of insurance contributions’ payment and usage of Fund’s assets, non-adherence to the legislation on public employment and also the sums of administrative fines, imposed according to the law on the officials and citizens for such violations;
- profit received from temporary free Fund’s assets including provisions of Fund’s assets on deposit account;
- charitable contributions of enterprises, establishments, organizations and natural persons;
- other earnings according to the Ukrainian legislation.
The Fund’s assets are used for:
- the payment of endowment and providing for social service envisaged in article 7 of the Law of Ukraine on Obligatory State Social Insurance for Unemployment Cases;
- compensation of expenses to the Pension Fund of Ukraine relating to the early retirement of persons envisaged in article 20 of the Law of Ukraine on Obligatory State Social Insurance for Unemployment Cases;
- financing of charges on maintenance and activity security of Fund’s Executive Directorate and its working bodies, the Board of the Fund, development of its material and information resources;
- creation of provision of Fund’s assets.
The Fund according to Ukrainian legislation is responsible for persons as a result of late or incomplete providing for endowment envisaged in the Law of Ukraine on Obligatory State Social Insurance for Unemployment Cases.
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To a Member of Confederation
