UAE Unemployment Insurance Scheme for Emiratis & Residents

The UAE is the 12th country in the world to introduce an unemployment insurance scheme under the name of ‘Self-Employment and Unemployment Insurance Scheme’ that aims to protect the rights of the UAE citizens and residents of the country.

The UAE Cabinet has approved the Self-Employment and Unemployment Insurance Scheme, which is expected to help in reducing the risk of unemployment for Emiratis and residents of the UAE in case of loss of employment for any reason.

UAE Unemployment Insurance Scheme for Emiratis & Residents: What is it?

The UAE has a new unemployment insurance scheme for Emiratis and residents. The scheme, which is already active, will cover all Emiratis and residents and will be implemented in stages according to the Ministry of Finance (United Arab Emirates) officials. The new system will protect the employment of Emiratis and residents in the private sector against any unemployment and financial hardships. The latest data from the Ministry of Human Resources and Emiratisation revealed that there are 1.86 million Emiratis and residents working in both the private and public sectors. The data shows that the unemployment rate among Emiratis is only 0.1 per cent and the rate among residents is 3.3 per cent. The unemployment insurance scheme is a supporting and complementary system to the existing unemployment insurance system.

How to apply for UAE Unemployment Insurance Scheme for Emiratis & Residents?

In order to apply for UAE Unemployment Insurance Scheme for Emiratis & Residents, you need to visit the website that was launched for this initiative by H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, on the sidelines of the Cabinet meeting held on February 2, 2017. You can also call 8009090 or visit the nearest Human Resources Development Fund (HRDF) branch to apply.

How to setup payroll through your company name and with the United Arab Emirates Social Security Authority.

The process of setting up payroll through the United Arab Emirates Social Security Authority (UAE SS) is relatively simple and can be done by any company, whether it is a partnership, limited liability company, or a branch of a foreign company. The UAE SS has made the registration process easy by providing an online registration portal where all the information needed to start the payroll system is provided. There are a few steps that need to be taken to start payroll in the UAE:

Retirement from the Emirates Pension Fund

UAE residents will not have to wait to retire as the UAE government has launched a new scheme that will allow residents to retire at the age of 55. The scheme, which will be implemented by the Emirates Pension Fund (EPF), will offer a monthly pension to citizens.

 In conclusion, the UAE has introduced an unemployment insurance scheme called the ‘Self-Employment and Unemployment Insurance Scheme’, that aims to protect the rights of the UAE citizens and residents of the country. The scheme will cover all UAE citizens and residents and is expected to help in reducing the risk of unemployment for them in case of loss of employment for any reason. This new scheme is a supporting and complementary system to the existing unemployment insurance system, which aims to support the citizens and residents financially during tough times. The registration process for the scheme is straightforward and can be done online through the website that was launched by the Ministry of Finance (United Arab Emirates), and it’s easy to navigate. Additionally, the United Arab Emirates Social Security Authority (UAE SS) also made it easy for companies to setup payroll in the UAE. The scheme will be implemented in stages according to the Ministry of Finance (United Arab Emirates) officials, providing a relief and peace of mind to the citizens of UAE.

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