SHEFAKO Jobs in Riyadh | Jeddah
Dubai: An insurance scheme to compensate those who lose their jobs has come into force in the UAE. Federal government and private sector employees are eligible for this scheme. The scheme is designed to provide compensation to the insured against loss of employment for a fixed period till they find another job subject to certain terms and conditions.
The maximum monthly payout is AED 20,000. According to the information released by the Ministry of Human Resources and Emiratisation (MoHRE), all employees except investors, i.e. owners of their establishments, domestic workers, part-time employees, those below 18 years of age, retirees, and pensioners will get the benefit of this scheme.
The beneficiaries of the scheme will be those who have continuously worked for a company for 12 months. This date will be calculated from the date of joining the employment insurance scheme. Meanwhile, workers dismissed by the company due to disciplinary action will not receive compensation.
Penalties will also be levied on the workers if they are found to be involved in any form of improper involvement like being a part of the insurance scheme in the name of bogus institutions and trying to get benefits through fraud. Insurance can be taken through insurance companies licensed by the UAE Central Bank.
If the worker gets another job within three months, the compensation will not be paid. In addition to insurance companies licensed by the UAE Central Bank, the list of service providers may also include other government entities designated by the UAE Cabinet to provide unemployment insurance services.
Minister of Human Resources and Emiratization Dr. Abdulrahman Al Awar stated that the new project reflects the government’s effort to develop a better working environment in the country. He also said that reports indicate that people from all over the world prefer to work and settle in the UAE because of the benefits the UAE offers in terms of safety, security, employment benefits, education standards, health, etc.
The UAE prioritizes protecting the dignity of every human being. The new scheme enhances the legislative environment to protect the rights of all employees – Emiratis and residents – of the country and provide them with better means of care at all levels. It also contributes to the sustainability and prosperity of the society, he added.
