Service started for employees: Unemployment Insurance Scheme service has been started for employees living in UAE, with the help of which they will be given financial help in case of job loss. Employees need to keep in mind that this insurance scheme is mandatory for all. All this has been said that if an employee does not invest in this insurance scheme then he will be fined.
What is the last date of investment?
Employees need to keep in mind that the last date for investment is October 1, 2023. It has been said that if an employee does not register in this scheme by October 1, 2023, he will have to pay a fine.
After registering in this insurance scheme, employees will also have to take care that they deposit the installment fee on time.
How much will be the fine?
It has been informed that if any employee does not register in this scheme then he will be fined.
Employees who do not register with the Unemployment Insurance Scheme will have to pay a fine of Dh400. In case of non-payment of installments on time, employees will have to pay a penalty fee of Dh20.
If an employee does not deposit the penalty within 3 months of its due date, the money will be deducted from the Wage Protection System (WPS), or end-of-service gratuity. Along with this, new work permits will be banned and new jobs will also not be available.
