Photo for illustrative purposes only. ARCHIVE

Purchasing job-loss insurance will be mandatory once the program goes into force on January 1, 2023, according to the Ministry of Human Resources and Emiratisation (MoHRE). Update: As of January 3, authorities announced a grace period of six months or until June 30, 2023 for qualified employees to complete their application or face a Dh400 fine. Employees in the private sector and federal government agencies can enlist in the Unemployment Insurance Scheme for as little as Dh5 per month. In the case of job loss owing to a non-disciplinary reason, the plan will provide monetary benefit for a limited period of up to three consecutive months per claim. Individuals can pay for the insurance scheme via the insurance pool's website (www.iloe.ae), bank ATMs, business service centers, money exchange companies, and SMS. BKM/ Expat Media
For all the latest news from the UAE and the world, follow us on Facebook, Twitter and Instagram and subscribe to our YouTube page