Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- No social insurance cover for expats during vacation  Join our daily free Newsletter

MENAFN - Arab News - 10/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) The general organization of social insurance (gosi) has announced that from next year it will halt the vocational hazard insurance coverage for expatriates who leave saudi arabia for a holiday in addition to stopping the payment of subscriptions during vacations.

however expatriates will be able to avail themselves of these benefits on returning to the kingdom.

the gosi also declared an increase in the minimum subscription for occupational hazards for non-saudis and those not included in the sr400-sr800 wage bracket.

the organization through its inspectors has conducted field tours on all sectors related to the implementation of the law to make sure workers are enrolled with their actual wages while those employers who fail to register their workers' actual wages will be subjected to inquiry and fines.

sulaiman al-quwaiz governor of gosi said that the amendments were aimed at facilitating matters for its clients which were in line with using e-services and e-linkage with the relevant government entities.

the most important of these amendments is stopping the implementation of insurance coverage for vocational hazards and their subscription payments during the expatriates' temporary absence from the kingdom.

he added that the organization will continue with the implementation of this decision by notifying employers about it; the procedure will be implemented automatically without adding any extra cost to employers he said.

'the amendments include raising the minimum subscription for vocational hazards to sr800 for expatriates who meet the criteria of vocational hazards insurance. this percentage is paid by the employer and covers work injuries and vocational illnesses. employers are expected to provide health care costs until the worker is completely healed. compensations will be given to those who suffer work injury and in case of death the compensations will be paid to their families" al-quwaiz said.

he said the aim of this decision is to activate the system's goals and achieve the interest of the subscriber. he said the value of financial compensations for injury or death will be defined according to the fee registered with the organization. he said the amendment is in line with the actual wages in the labor market which witnessed a radical increase for non-saudis that exceed sr800.

he said some wages that are registered with organizations are slightly less than the actual wage and the organization will not accept any wages that are less than sr800.

he pointed out that these decisions came within a series of reviews of the executive list of social insurance to guarantee its conformity with the ground reality.

'the decision will only affect those registered with a basic salary and accommodation stipend of less than sr800. the monthly increase for each worker will be between sr1 and sr8" he said.

the decision will be implemented at the beginning of the new year.


 


Arab News




  MENA News Headlines
 Jan 29 2015 - HH the Emir Receives Phone Call from Ban Ki-moonQatar News Agency
(MENAFN - QNA) HH the Emir Sheikh Tamim bin Hamad Al-Thani on Thursday received a phone call from the United Nations Secretary-General, Ban Ki-moon, during which he thanked HH the Emir on the ...

 Jan 29 2015 - Consumer spends on pharma products to increase to Dh5.03b by 2020Khaleej Times
(MENAFN - Khaleej Times) Dubai € Consumer expenditure on pharmaceutical products, medical appliances and equipment in the UAE has experienced a strong increase and is forecast to be valued around ...

 Jan 29 2015 - UAE- Time to put cyber security on top priorityKhaleej Times
(MENAFN - Khaleej Times) Kaspersky lab solutions block millions of attacks across the globe, which clearly indicates that cyber criminals are smart, but not smarter than security providers.This was ...

 Jan 29 2015 - Indian business council honours Emirati businessmenKhaleej Times
(MENAFN - Khaleej Times) Dubai - The Indian Business and Professional Council (IBPC) hosted a reception on the occasion of the 66th Republic Day of India at the Oberoi Hotel, Business Bay, on Sunday. ...

 Jan 29 2015 - UAE, Canada discuss ways to boost tradeKhaleej Times
(MENAFN - Khaleej Times) Abu Dhabi - Abdullah Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade, received a Canadian delegation led by Martin Zablocki, CEO of the Canadian ...

 Jan 29 2015 - Emirates NBD facilitates Stanbic in $85 million loan facilityKhaleej Times
(MENAFN - Khaleej Times) Al Ahli Bank of Kuwait and Standard Chartered Bank joined the transaction as mandated lead arrangers while Al Khalij Commercial Bank and The Commercial Bank of Qatar ...

 Jan 29 2015 - NBAD profit jumps 28% in 2014Khaleej Times
(MENAFN - Khaleej Times) Abu Dhabi - A strong growth in incomes from interest and non-interest based revenues bolstered the National Bank of Abu Dhabi (NBAD) profits to Dh1.372 billion in the quarter ...

 Jan 29 2015 - UAE pharma spend to hit Dh5 billion by 2020Khaleej Times
(MENAFN - Khaleej Times) It is also forecasted to increase at a compound annual growth rate (CAGR) of about 9.78 per cent from 2014 to 2020 as, by then, the value of consumer expenditure on ...

 Jan 29 2015 - Parents happy with children's educationKhaleej Times
(MENAFN - Khaleej Times) Abu Dhabi: A survey by the Abu Dhabi Education Council (Adec) has revealed that parents across the emirate are satisfied with their children's schools. The education ...

 Jan 29 2015 - Customers continue winning at Malabar Gold 1amp Diamonds FestivalArab News
(MENAFN - Arab News) Customers continue to win at Malabar Gold & Diamonds' ongoing gold and diamond festival.The jewelry retailer's 4th edition of Malabar Gold & Diamonds Festival in the GCC ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help