If you are unaware of the UAE Unemployment Insurance Scheme, we must sign up by the end of June.
It is being started by The Ministry of Human Resources and Emiratisation (MoHRE), and the main aim is to provide more security to private sector workers, which will help reduce job anxiety among them.
The scheme is mandatory for public and private sector workers, and the registration deadline is June 30.
As the date gets closer, if you are unaware like us, you will wonder how to apply. Hence, here is a complete guide on how to use it to make your task easier.
How to apply for the UAE Unemployment Insurance Scheme: Where to sign up?
For applying the UAE Unemployment Scheme, you have to follow the below instructions:
- Log into The Involuntary Loss of Employment (ILOE) Scheme website
- The ILOE smart application
- Bank ATMs
- Kiosk Machines
- Business service centers
- Money exchange companies
- du and Etisalat, SMS.
UAE Unemployment Insurance Scheme: What happens if you don’t sign up?
If you don’t register yourself in the scheme, the fine for a nonsubscription is Dhs400.
Investors, domestic helpers, pensioners, those with temporary employment contracts, and anyone under 18 are excluded from the scheme.
UAE Unemployment Insurance Scheme: How it works?
The insurance scheme is divided into two categories –
- The first covers those with a basic salary of Dhs 16,000 and less, and the cost of the insured employee in this category is set at Dhs5 per month, or Dhs 60 annually.
- The second category comprises those with a basic salary exceeding Dhs 16,000; the insurance cost is Dhs 10 per month, or Dhs 120 annually.
The payment can be made by the employee monthly, quarterly, half-yearly, or on an annual basis.
The value of the insurance policy is subject to the value-added tax ( VAT).
Moreover, commission-based workers can also subscribe to this scheme.