An employer is a person or  corporate body with whom an employee has entered into a contract of service or apprenticeship expressed or implied where such a person or corporate body is liable to pay salary, wages or other remuneration for services performed by the employee.

• Must register with the NIS
• Must ensure that all its employees are registered with the NIS
• Must deduct and pay the required contributions on behalf of all employees in current employment.

The contribution rate is as follows:

6.75% payable by the employer.

5.75% payable by the employee

Insurable earnings are the earnings on a monthly or weekly basis on which contributions are to be deducted.

The maximum insurable earnings on which contributions are payable are:

         $5,200.00           –       Per month

         $1,200.00           –       Per week

Contributions are payable on all the following income:

• Overtime wages/payments
• Cost of living bonus
• Additional Payments in respect of dependents
• Supplements for long service in industry efficiency
• Commission on sales or similar payments
• Gratuities paid by employer
• Payment for night or shift work
• Service charges
• Any of an employee’s liabilities paid on behalf by the employer
• Holiday Pay
• Danger or dirt money or similar payments

Contributions are due and payable at the end of each month.  A grace of up to fourteen (14) days are allowed with penalty and interest.

Penalties and interest for late payment are applied as follows:

• A 10% surcharge on the amount payable
• An additional 1% interest for every month or part of a month that the contribution payment remains outstanding.

Monthly remittances must be submitted via the NIS Web Portal my.nisgrenada.org clearly stating the following:

• The name and registration number of the employer
• The name and registration number of each employee
• In the case of weekly paid employees the amount earned each week
• The insurable earnings and total 12.5% contribution
• The total contributions to be paid

Payment can be made using the following options:

• NIS Headquarters Building, Melville Street, St. George’s
• Grenville sub-office, Cnr Jubilee & Victoria Streets, Grenville
• Carriacou sub-office, Church Street, Carriacou

         Online Banking;

• Republic Bank Grenada Ltd.
• Grenada Co-operative Bank Ltd.

Non-nationals are required to pay contributions if they are employed or is a self-employed person in Grenada.

The contribution rate for a self-employed person is 12.5% of gross earnings.

The maximum insurable earnings on which contributions are payable by the self-employed person are similar to that of an employee and are:

         $5,200.00           –       Per month

         $1,200.00           –       Per week

A self-employed person is entitled to all the benefits offered by the National Insurance Scheme.

A voluntary contributor is one who is between ages 16 and 61, is ordinarily resident in Grenada and while not employed or self-employed, wish to continue to pay contributions voluntarily in order to keep your contributions unbroken or to enable you to qualify to receive a pension.

The contribution rate for a voluntary contributor is 6.75% of insurable earnings.