The theme park spans six hectares with over 40 rides and attractions
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The UAE’s pension department inspectors visited 135 companies in 2022 to verify their compliance with the rules. By law, companies are required to register Emirati employees with the General Pension and Social Security Authority (GPSSA) and contribute on their behalf.
The GPSSA said its inspectors spotted multiple violations like failure to register Emirati employees; failure to contribute on their behalf; charging a higher amount of contributions; paying contributions based on inaccurate wages; and not clarifying the employment relationship in a “clear and appropriate manner”.
Though firms are required to coordinate with the GPSSA to follow the law, insured Emiratis are not absolved from “checking his/her registration and monthly contributions”.
According to the GPSSA, contributions for Emirati employees are due from the beginning of the month till the 15th. Entities that delay the payment are charged 0.1 per cent of the due contributions for each day delayed.
Failure to pay contributions on behalf of insured individuals entails a fine of Dh5,000 for each employee. The same fine applies if the entity deducts higher contribution percentages.
Paying the insured’s contributions based on inaccurate wages, or not paying them at all, results in the employer paying 10 per cent of the value of contributions due from them as penalty.
Deliberately refraining from sharing data with the intention of obtaining funds from the GPSSA unjustly, or submitting incorrect data to its inspectors is punishable with imprisonment and/or a Dh5,000 fine.
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