Employers based in the UAE will not face fines for late payments of pension and social security contributions due in October and November 2024, according to a statement from a UAE authority on Tuesday.
The General Pension and Social Security Authority (GPSSA) issued a circular exempting employers in the federal, government, and private sectors from fines. Typically, pension and social security contributions are due by the 1st of each month, but this deadline has been extended to the 15th of the month. Consequently, employers now have until December 15, 2024, to make their contributions.
This decision aims to alleviate the financial burden on employers by extending the payment deadline. It was made in recognition of the support received from GPSSA's strategic partners during the launch of the Ma'ashi platform, which offers new and updated digital services for stakeholders.
The authority emphasized that employers should ensure timely transfers of contributions through the Ma'ashi platform to avoid any financial penalties.
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