| Description | Before: The Certificate of Registration with EOBI is issued by the Employees' Old-Age Benefits Institution (EOBI) to facilitate the collection of contributions for social security programs under the Employees' Old-Age Benefits Act, 1976. Registered establishments contribute 5% of the minimum wage as the employer’s share and 1% as the employee’s share, supporting the provision of pensions and grants to the working class. In the USA, the social security system is mandatory and it is fully automatic. Separate EOBI registration and compliance requirements increase the administrative burden and cost of employing workers. |