The UAE on Thursday extended the deadline to register for the mandatory job loss insurance scheme from June 30 to October 1, 2023.
According to the Ministry of Human Resources and Emiratisation (MoHRE), Dh400 fine will be imposed on employees who fail to register by October 1.
The mandatory job loss insurance, also known as Involuntary Loss of Employment (ILOE), was launched on January 1, 2023, for employees working in the private sector, the federal government and free zones. The workers were given January to June time to subscribe, failing which penalty will be imposed.
While investors, domestic workers, temporary contract workers, residents aged under 18, and retirees who are earning a retirement pension and have started a new job are exempted from the scheme.
Since January, 4.6 million employees have subscribed to the scheme. And the extension is a reprieve, especially for blue-collar workers, as it will provide them more time to subscribe to the scheme.
As per MoHRE guidelines, subscribing to the job loss insurance scheme is the responsibility of the employee, not the employer.
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