Last Updated on: 10th July 2023, 08:06 am
UAE Unemployment Insurance Scheme Doesn’t Apply To Emirati Workers
Emirates and Dnata staff have been informed that they are not required to register with UAE unemployment insurance. This message was emailed to them on Friday.
The unemployment insurance scheme, known as the Involuntary Job Loss Insurance Scheme, went into effect on January 1, 2023. It covers both Emirati and foreign workers in the public and private sectors.
Workers working in free zones must register with unemployment insurance. This program serves as a financial safety net for Emiratis and residents who lose their jobs. They receive a sum of money for three months to support them while they are unemployed.
To be eligible for unemployment benefits, workers must register and pay an insurance premium based on their monthly salary. Registration closes on June 30th. Failure to register before this date will result in a fine of AED 400.
It’s worth noting here that this announcement by Emirates follows the company’s recent announcement that it would be giving its employees a bonus of AED10.6 billion ($2.9 billion). More than 50,000 employees received their May salary for 24 weeks in recognition of the company’s outstanding performance over the past year.
For more information on the UAE Involuntary Job Loss Insurance Scheme click here.
Also Read: Dubai Has The Highest Number of Billionaires in the Middle East