She learnt her toughest financial lessons amidst her mother’s battle with cancer
As an employee, you are entitled to end of service benefits if you were employed for more than one year, in accordance with Article 132 of the Employment Law. The employer must also abide by the provisions of the WPS Law and the salaries of the employees have to be paid through the Wage Protection System (WPS). This is in accordance with Article 1 (a) of the WPS Law, which states: "All establishments shall pay the wages of its employees on the date of the maturity thereof through the WPS or any other systems resolved in this regard, and the employee's wage shall be due as of the day following the expiration of the term on which the wage is specified in the contract. If this term is not specified in the contract, his wage shall be paid once at least every two weeks".
However, the WPS Law is silent regarding payment of end of service benefits. In the UAE, the employer must provide to the Ministry of Human Resources and Emiratisation, the proof of payments to its employees through the WPS. Thereby the salaries and entitlements are transferred to the registered bank account of the employee in the UAE or deposited with an approved exchange house where the employer has registered the WPS and the same may be withdrawn by the employee.
Based on this, the employer may only transfer your end of service benefits to your bank account which is registered with WPS for payment of your salary in the UAE.
Therefore, if you are planning to return to the UAE you may withdraw your end of service benefits from your bank account upon your return. On the other hand, if you are not planning to return to the UAE you may send a written instruction in original to your bank to remit the credit balance in your account to your bank account in Nepal.
Further, it is recommended that you withdraw your end of service benefits at the earliest as keeping your bank account inactive for a long duration may lead to your bank account being classified as dormant.
Know the law
She learnt her toughest financial lessons amidst her mother’s battle with cancer
The pandemic saw a significant rise in number of cases of anxiety
The art of glow... and glory
March being the World Endometriosis Awareness Month, we attempt to decode the not-so-widely understood condition that condemns its sufferers to a life of unbearable pain
UAE resident shares why she chose the 2020 Nissan Altima to be her road companion
Here are some landmarks that make the visit so much more worthwhile
Now calling a child or youngster “chubby” can be demeaning to them, for even an eight-year-old knows all about body-shaming
shashi tharoors world of words
When someone boasts he is “ahead of the curve”, in other words performing better, earlier or faster than the competition, that expression also has its roots in flying