Picture for illustrative purposes only.
PHOTO BY ARCHIVE
The UAE’s Ministry of Human Resources and Emiratisation (MOHRE) has reiterated a reminder to all working expatriates and nationals in the country to subscribe to the mandatory unemployment insurance ahead of the October 1 deadline.
The deadline has been extended several times since January 1 to allow all employees in the private sector and public sector to subscribe to the insurance policy to avoid a Dh400 fine.
Here’s all you need to know abou the mandatory insurance scheme:
The Insurance Pool’s website (www.iloe.ae) is the preferred channel for majority of subscribers to date. Other channels available for subscription include the Insurance Pool’s app (IOLE), Kiosks, business service centers, money exchange centers such as Al Ansari, and bank smart apps, as well as SMS and telecom bills.
Subscribing to the scheme online can be done in four steps – visit www.iloe.ae, click on “subscribe here” to access the registration page, select the relevant sector you are employed in; enter your personal identification data, phone number and verification code sent via SMS; choose your preferred payment interval (monthly, quarterly, semi-annual or annual); enter your email address, and move onto the payment gateway to complete registration successfully.
For those with a basic salary of Dh16,000 or less, the insurance premium is set at Dh5 per month (Dh60 annually), and monthly compensation capped at Dh10,000 per month when they claim their insurance. For those with basic salary exceeding Dh16,000, the insurance premium is Dh10 per month (Dh120 annually) with a monthly compensation of up to Dh20,000 when they claim their insurance.
The employee must pay for his or her own insurance policy.
The insurance compensation can be claimed as long as the insurer (employee) has subscribed to the Unemployment Insurance Scheme for at least 12 consecutive months. The claim can be submitted within 30 days of job loss and will be processed within two weeks of submission. The insured’s right to compensation is forfeited if he or she cancels their residency and leaves the country, or joins a new job, within the processing period.
The compensation is calculated at the rate of 60 percent of the average basic salary for the last six months before unemployment and paid for a maximum of three months for each claim from the date of unemployment.
Those exempted from subscribing include investors – the owner of the facility in which he or she works, domestic helpers, employee with a temporary employment contract, juveniles under 18 years of age, and a retiree who receives a retirement pension and has joined a new job.
Failure to subscribe to the insurance scheme will result in a Dh400 fine. Failure to pay insurance premiums on time will result in Dh200 fine. ICA/Expat Media
For all the latest news from the UAE and the world, follow us on Facebook, Twitter and Instagram and subscribe to our YouTube page
Share
© 2015 All Rights Reserved. ExpatMedia
