The Government Regulation (Peraturan Pemerintah/PP) No. 25 year 2020 about the Housing Saving (Tabungan Perumahan/Tapera) has been issued in 20 May 2020 to be run by the Badan Pengelola Tabungan Perumahan Rakyat (BP Tapera). These are the things you should know about the so called PP Tapera;

How it works

Employees will be required to save some money regularly in a period of time. The saving will be returned once the membership has been over to finance the housing.

Who will be eligible for the program

• Employees including private sectors, public services with income higher than the minimum wages
• Self-employed workers with all amount of income
• Employers who are required to register their employees and cover some contributions to the savings no later than 2027

Contributions

0,5% of the salary is covered by the employer

2,5% of the salary is covered by the employees

Maximum salary to be calculated is Rp 12.000.000 / month.

Requirements to receive the house financing

1. Minimum 1 year in the saving program
2. Low income
3. Not yet owning any house

Beside this saving, so many contributions that need to be calculated by HR managers when payroll. Using HReasily will help them automate the process accurately and updates with the latest regulations. Book a demo with us by clicking on the link below.

*Written by Puja Altiar for Startup HR Community, organised by HReasily