Employer covers 10% of pension fees
The Social Security and Pensions Authority in the UAE confirmed that if an employer is found to have paid false or inaccurate wages when submitting pension contributions, they will be subject to a fine of 10% of the owed contributions. Additionally, the employer must pay a daily fine of 0.1% of the outstanding contributions for each day of delay, without the need for any notice, and the fine should not exceed the amount of the owed contributions. An electronic transfer system via the "Miashi" platform has been adopted to facilitate accurate and easy payment of contributions, with the possibility of extending the deadline until the fifteenth of the following month, along with real-time verification of the owed amounts.
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