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The United Arab Emirates (UAE) has implemented an Unemployment Insurance Scheme to provide financial support to employees who face unexpected job loss. This program came into effect on January 1, 2023. However, you need to meet specific eligibility criteria to benefit from this scheme.
In this article, we will cover these criteria in detail along with the basics of the insurance scheme.
The UAE Unemployment Insurance Scheme is created by the UAE government in order to help individuals during their period of job loss. This program offers a safety net for workers, ensuring that they can continue living a comfortable lifestyle during periods of unemployment.
The Unemployment Insurance Scheme came into effect on January 1, 2023. Initially, it was mandatory only for mainland-employed workers, but it has since been extended to include free zone employees.
The deadline for enrollment was initially set for June 30, 2023, but has been extended to October 1, 2023, to avoid incurring a fine of AED400. If you were hired after January 1, 2023, you have four months from your start date to subscribe.
The scheme pays out a cash benefit for three months if you lose your job. This is calculated at 60% of the basic salary. Its monthly payout is a maximum of AED10,000 if the income is less than AED 16,000. If the earnings exceed that, the payout comes to around AED20,000. However, this comes with an insurance cost of AED5 and AED 10 for both income groups.
The scheme covers a wide range of employees. You must enroll if you work in the federal government, private sector, or a free zone (including Dubai International Financial Center and Abu Dhabi Global Market).
However, there are some exceptions. The scheme doesn’t apply to investors, business owners who manage their businesses, domestic workers, temporary employees, those under 18, and retirees who receive a pension and have joined a new employer.
Employees can pay the subscription fees monthly, quarterly, once every six months, or annually. Failure to do so can result in penalties, such as a fine of AED 400 for non-registration.
Also, read: How to Claim Unemployment Insurance in Case of a Job Loss
You must meet the criteria below to claim for the UAE Unemployment Insurance Scheme.
The UAE Unemployment Insurance Scheme means a lot to the country’s citizens. Providing financial support during unexpected job losses gives them time to look for a better job. However, as mentioned in the article, you must pay for subscriptions regularly and meet other criteria.
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