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Post # 1
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Join Date: 16 Jan 2012
Location:  UAEPosts: 13 |
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Wage Protection System - Payroll Card Disbursement Solution in UAE |
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Payroll
Wages Protection System In line with the UAE government efforts and its development and modernisation plans which aim at improving government performance and providing better and faster services to the public, the Ministry of Labour has implemented a Wages Protection System. This system is an important step towards ensuring and protecting the rights of workers, and towards establishing trust between establishments and their employees. Companies are now obliged to transfer the salaries of their employees through the new system within a period not exceeding nine months. Companies that fail to abide by the decision will be subject to punishments and fines, and will not be able to obtain work permits. Advantages of the System Save time and effort in payment of wages. Enhance employee productivity and loyalty. Ensure that companies pay employee wages periodically. Avoid having employees and employers carry large amounts of cash in the workplace. How the System Works In order to participate in this system, companies must select one or more agent from among the agents licensed by the Central Bank. Once the company’s authorised bank receives the employee salaries, it sends a notification to the Wages Protection System. The system then sends the workers' details and wages as well as the salary transfer instructions electronically to the Central Bank of the UAE, which will in turn forward those details to the Ministry of Labour database in order to ensure that the details received correspond with those registered with the Ministry. The system will then send the approved information to the appointed agent in order to start paying the wages. Workers that do not receive their salaries, or have any concerns regarding the method of payment can report their concerns in person at any of the Ministry's offices or via the login page available in the “Helpful Links†column. Source: Ministry of Labour website One of the Best WPS - Service provider is as below Mint Middle East Mint’s prepaid payroll card provides a cost effective solution to those who do not use a bank or credit account, and is a much safer alternative than carrying cash. Workers can use the payroll card in debit machines, and everyplace that MasterCard® is accepted. The payroll cards also include a money transfer function that can be accessed from employees’ mobile phones, providing workers with an inexpensive remittance capability serving as an alternative to global currency companies. Technology infrastructure: the Middle East benefits from a sufficiently advanced technology infrastructure, such as ATMs and internet and mobile penetration, that supply an efficient platform for the provision of Mint’s offering. Advantages: No bank account or banking relationship required Inexpensive alternative for handling money transfers Inexpensive payroll management and distribution system verses paper-based payroll cheques Operational efficiency for both employer and employee Simplifies handling replacement cards, no lost or stolen cheques to track Safer to carry than cash |
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