Tema, Feb. 24, GNA - The Tema Circuit Court "A" on Tuesday granted a 60 million cedis bail to the Managing Director of Research Centre Limited for failing to pay Social Security deductions to SSNIT fund. Isaac K. Osei, whose company produces educational materials pleaded guilty and will re-appear on March 24, 2004.

Mr Sam Owusu Anim, area prosecutor of the Social Security and National Insurance Trust (SSNIT) told the court, presided over by Mr Charles Asiedu that Osei, who has a number of employees deducted Social Security contributions from the salaries of workers as demanded by law.

He said however, between July 2001 and October 2003 at Teshie, Osei failed to pay the Social Security contributions totalling 41,249,108 cedis to the SSNIT fund, which represents total and cumulative penalty. The court ordered the accused to pay the amount, and advised that he could discuss with the management of the SSNIT on the terms of payment of the accumulated debt.