Free zone companies in the UAE can now enroll their employees in the Involuntary Loss of Employment (ILOE), also known as the Unemployment Insurance Scheme – according to an announcement on the ILOE website – iloe.ae, on Monday, September 11.
Read the full story here: https://gulfnews.com/living-in-uae/ask-us/uae-free-zone-companies-can-now-enrol-employees-in-unemployment-insurance-scheme--all-you-need-to-know-1.1694439842031
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#UAEnews #insurance #employment
Read the full story here: https://gulfnews.com/living-in-uae/ask-us/uae-free-zone-companies-can-now-enrol-employees-in-unemployment-insurance-scheme--all-you-need-to-know-1.1694439842031
See more videos at https://gulfnews.com/videos
Read more Gulf News stories here: https://bit.ly/2HLJ2km
Subscribe to Gulf News on YouTube and watch more of our videos: https://www.youtube.com/user/GulfNewsTV
#UAEnews #insurance #employment
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NewsTranscript
00:00If you are the owner of a free zone company in the UAE, you can now enroll your employees
00:16for the Unemployment Insurance Scheme.
00:19The scheme, which is called Involuntary Loss of Employment, ILOE, was launched earlier
00:24this year by the Ministry of Human Resources and Amortization.
00:28And while initially it was open to private sector employees and federal government employees,
00:34in May the Ministry announced that the scheme had also been opened up to free zone employees.
00:39Now free zone companies can also help their employees enroll for the scheme by following
00:43certain steps.
00:45But it's important to note that the cost of the insurance scheme has to be borne by the
00:49employee themselves.
00:51This is because if the employees lose their jobs for reasons beyond their control and
00:56they are eligible to receive a payout, they will get 60% of their basic salary for 3 months.
01:02To find out how you can enroll for the insurance scheme yourself and how free zone companies
01:06can enroll their employees in the scheme, please log on to gulfnews.com