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Learn the essential steps of the registration process as an employer with the Social Security Fund in Panama.
According to the provisions of Law No. 51 of December 27, 2005, Organic Law of the Social Security Agency, every natural or legal person has the duty to register as an employer with the social security regime when using the services of a worker under an individual employment contract.
The aforementioned regulation stipulates that every natural or legal person must register as an employer with the Social Security Regime within the first six (6) business days immediately following the hiring of their first worker, in order to avoid fines.
To begin the registration process with the Social Security Agency, it is necessary for the company or employer to have hired at least one (1) worker; in other words, a company cannot register as a “potential employer,” considering that in the short or medium term it will hire one or more workers, but must do so at the time it makes the first employment contract.
The general requirements for employer registration with the Social Security Agency are as follows:
- Complete and sign the “Employer Registration Application” under the professional risk program.
- Complete and sign the form titled “List of Workers.”
- Complete and sign the Digital Signature Contract that will allow obtaining a username and password to access the SIPE computer system of the Social Security Agency.
- Copy of a water, electricity, or telephone bill in the employer’s name.
- Individual employment contract signed with the first worker.
- Copy of the company’s articles of incorporation.
- Certificate of Public Registry of the Company.
- Company Operations Notice.
- Sketch with the company’s address.
Those who fail to comply with the obligation to register in a timely manner as an employer with the Social Security Agency may be sanctioned by this institution with fines ranging from one hundred balboas (B/.100.00) to five thousand balboas (B/.5,000.00).
