Telco’s AGM to approve cash dividends of 40 fils per share for H2 of 2023
The unified general labour regulations will enable public and private sector employers to adopt creative end-of-service schemes that increase their competitiveness in the labour market, confirmed a UAE Minister.
Starting from February 2, 2022, employees in the federal government and private sector will also be equally entitled to the same gratuity under the new unified regulations announced by the Ministry of Human Resources and Emiratisation on Monday.
Dr. Abdulrahman Al Awar, Minister of Human Resources and Emiratisation, said the labour regulations will present diverse gratuity options for employers beyond the conventional scheme.
He explained, “employers can, for example, adopt a savings scheme that enables employees to invest in their gratuity from the date of joining until end of their service.”
Details of the schemes will soon be announced, the minister confirmed.
The move, he said, is part of the country’s broader goals to provide flexibility for employers in a competitive labour market that meets the aspirations of talents coming from all over the world.
“Employers will have options to opt for to distinguish themselves in the market and attract global talents and competencies, boosting the UAE’s economy on the global map.”
The additional gratuity schemes are also aimed at fitting employees working in the job models introduced in the labour law last month including temporary, flexible and part-time.
The ministry announced on Monday general regulations to unify the working systems of the public and private sectors to establish an integrated, efficient and sustainable labour market that grants the same rights to employees across the country.
Under the conventional gratuity scheme, full-time private sector and federal government employees will equally be entitled to gratuity of 21 days’ basic salary for each year of work for the first five years of employment.
ALSO READ:
Those who spend more than five years of service are entitled to gratuity of 30 days’ basic salary for each year of work after the first five years, in addition to the 21 days’ basic salary for each year for the first five years.
The law will determine gratuity for employees opting for temporary, flexible and part-time job models.
Under the law, no gratuity is paid for employees who do not complete one year of employment.
sherouk@khaleejtimes.com
Telco’s AGM to approve cash dividends of 40 fils per share for H2 of 2023
Company showcases Hybrid Cloud Observability at GISEC 2024
Pakistan Tehreek-e-Insaf (PTI) announced a series of protests from Friday
By understanding the tactics universities employ, students can strategically craft their applications strategy
Oil demand for road transport should peak around 2025
Some of America's most prestigious universities have been rocked by protests in recent weeks as students and other agitators take over quads
Eight teams will compete in this groundbreaking event and more than 10,000 spectators are expected to witness the inaugural edition
Robust performance acknowledged at its annual general meeting