12 May 2014
MANPOWER REGULATION ON ESTABLISHMENT OF BPJS MANPOWER (Badan Penyelenggara Jaminan Sosial Tenaga Kerja)
As mandated by Law No. 24 of 2011 concerning Social Security Organizing Agency (Badan Penyelenggara Jaminan Sosial or “BPJS”) (“Law No. 24/2011”), on 1 January 2014 PT Askes (Persero) effectively became BPJS Health and PT JAMSOSTEK (Persero) became BPJS Manpower. However, the implementing regulations of Law No. 24/2011 have not, to date, been issued. Here are highlights of…
12 May 2014
MANPOWER REGULATION ON UTILIZATION OF FOREIGN EMPLOYEES
The Minister of Manpower and Transmigration has issued a new regulation, Number 12 of 2013, on Procedure for Utilization of Foreign Employees (“PERMENAKER 12/2013”), which replaces the older Regulation Number PER.02/MEN/III/2008. The new regulation is set to provide clearer and more thorough information regarding employment of foreign nationals in Indonesia. Job training program is now…
12 May 2014
FUTURES REGULATOR INTRODUCES NEW DERIVATIVES CONTRACTS
The Indonesian Commodities Futures Trading Supervisory Agency (“Bappebti”) recently issued Regulation No. 109/BAPPEBTI/PER/01/2014 regarding Derivative Contracts Traded on the Alternative Trading System (the “Regulation”). With the issuance of the Regulation, Bappebti now allows futures exchanges in the country, though still subject to Bappebti’s further approval. At…