here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Amendments to the DIFC Employment Laws and new regulations have been made to introduce a new end of service savings plan. Employees under DIFC jurisdiction take note! HH Sheikh Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of the UAE and Ruler of Dubai enacted the Employment Law Amendment Law No. 4 of … ","protected":false},"author":397,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85,50],"tags":[2622,2620,2621],"acf":{"hide_featured_image":false,"featured_image":{"ID":20974,"id":20974,"title":"DIFC new laws","filename":"Screenshot-2020-01-14-08.01.36.png","filesize":0,"url":"\/wp-content\/uploads\/sites\/1\/2020\/01\/Screenshot-2020-01-14-08.01.36.png","link":"https:\/\/lovin.co\/dubai\/en\/news\/end-of-service-gratuity\/attachment\/screenshot-2020-01-14-08-01-36\/","alt":"","author":"397","description":"","caption":"","name":"screenshot-2020-01-14-08-01-36","status":"inherit","uploaded_to":20973,"date":"2020-01-14 04:02:05","modified":"2020-01-14 04:02:09","menu_order":0,"mime_type":"image\/png","type":"image","subtype":"png","icon":"https:\/\/lovin.co\/dubai\/en\/wp-includes\/images\/media\/default.png","width":700,"height":478,"sizes":{"thumbnail":"\/wp-content\/uploads\/sites\/1\/2020\/01\/Screenshot-2020-01-14-08.01.36-150x150.png","thumbnail-width":150,"thumbnail-height":150,"medium":"\/wp-content\/uploads\/sites\/1\/2020\/01\/Screenshot-2020-01-14-08.01.36-300x205.png","medium-width":300,"medium-height":205,"medium_large":"\/wp-content\/uploads\/sites\/1\/2020\/01\/Screenshot-2020-01-14-08.01.36.png","medium_large-width":700,"medium_large-height":478,"large":"\/wp-content\/uploads\/sites\/1\/2020\/01\/Screenshot-2020-01-14-08.01.36.png","large-width":700,"large-height":478,"1536x1536":"\/wp-content\/uploads\/sites\/1\/2020\/01\/Screenshot-2020-01-14-08.01.36.png","1536x1536-width":700,"1536x1536-height":478,"2048x2048":"\/wp-content\/uploads\/sites\/1\/2020\/01\/Screenshot-2020-01-14-08.01.36.png","2048x2048-width":700,"2048x2048-height":478,"small":"\/wp-content\/uploads\/sites\/1\/2020\/01\/Screenshot-2020-01-14-08.01.36-230x157.png","small-width":120,"small-height":82,"custom-size":"\/wp-content\/uploads\/sites\/1\/2020\/01\/Screenshot-2020-01-14-08.01.36.png","custom-size-width":293,"custom-size-height":200}},"featured_image_caption":"","ad_square_right":"","summary":"","flexible_content":[{"acf_fc_layout":"text_block","content":"Amendments to the DIFC Employment Laws and new regulations have been made to introduce a new end of service savings plan.<\/p>\n
Employees under DIFC jurisdiction take note!<\/p>\n
HH Sheikh Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of the UAE and Ruler of Dubai enacted the Employment Law Amendment Law No. 4 of 2020 this week.<\/p>\n
The current end-of-service gratuity payment regime, which has been in place since 2004, has been replaced with the new Qualifying Scheme workplace savings scheme and employers will soon need to start paying a minimum of\u00a05.83% of your monthly wage to the scheme, on your behalf.<\/p>\n"},{"acf_fc_layout":"text_block","content":"
From February 1, employers must make mandatory monthly contributions to a\u00a0professionally managed and regulated savings plan<\/h2>\n
New Employment Regulations have been released which outline the\u00a0requirements for qualifying for the scheme, proving a commitment to regulation in the DIFC.<\/p>\n
It’s worth noting any that any\u00a0end-of-service benefits accrued under the current regime remain in place, and these can be paid into the new\u00a0Qualifying Scheme.<\/p>\n"},{"acf_fc_layout":"text_block","content":"
Employees can make voluntary\u00a0workplace savings contributions<\/h2>\n
On top of the\u00a0mandatory monthly contributions to be made by employers under the Employment Law, employees can also make\u00a0voluntary workplace savings contributions into the\u00a0Qualifying Scheme.<\/p>\n
\n"},{"acf_fc_layout":"text_block","content":"
The mandatory contributions have been set<\/h2>\n
5.83 % of monthly basic wage (for employees who have less than five years\u2019 service), and 8.33 % of monthly basic wage for employees who have longer service<\/p>\n
And there are exceptions for international institutions already contribution to pensions on behalf of their employees. More information here<\/a>.<\/p>\n"}],"legacy_image":"","legacy_full_image":"","disable_ads":false,"slots_script_override":"","ad_horizontal_top_desktop":"","ad_vertical_left_desktop":"","ad_vertical_right_desktop":"","ad_horizontal_top_tablet":"","ad_horizontal_bottom_tablet":"","ad_horizontal_mobile_1":"","ad_horizontal_mobile_2":"","ad_horizontal_mobile_3":"","article_ad_infeed_slot":"","ad_square_podcast":"","disable_lovin_hearts":false,"lovin_heart_title":"","show_sponsor":false,"sponsor_image":false,"sponsor_name":"","sponsor_content":"","sponsor_website":"","sponsor_facebook":"","sponsor_twitter":"","sponsor_instagram":"","enable_reveal_feature":false,"reveal_image":false,"legacy_sponsor_name":"","legacy_sponsor_website":"","legacy_sponsor_content":"","legacy_sponsor_image":"","legacy_meta_tags":"","is_guest_user":false,"episode_number":"","embed_code":"","episode_introduction":""},"image_feature":null,"author_name":"Casey Fitzgerald","_links":{"self":[{"href":"https:\/\/lovin.co\/dubai\/en\/wp-json\/wp\/v2\/posts\/20973"}],"collection":[{"href":"https:\/\/lovin.co\/dubai\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lovin.co\/dubai\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lovin.co\/dubai\/en\/wp-json\/wp\/v2\/users\/397"}],"replies":[{"embeddable":true,"href":"https:\/\/lovin.co\/dubai\/en\/wp-json\/wp\/v2\/comments?post=20973"}],"version-history":[{"count":0,"href":"https:\/\/lovin.co\/dubai\/en\/wp-json\/wp\/v2\/posts\/20973\/revisions"}],"wp:attachment":[{"href":"https:\/\/lovin.co\/dubai\/en\/wp-json\/wp\/v2\/media?parent=20973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lovin.co\/dubai\/en\/wp-json\/wp\/v2\/categories?post=20973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lovin.co\/dubai\/en\/wp-json\/wp\/v2\/tags?post=20973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}