Thu 06-04-2023 18:14 PM
ABU DHABI, 6th April, 2023 (WAM) -- An accommodation allowance worth 6,000 Qatari Riyals (AED 6,051.98) and an increase in contribution rates due from insured individuals are a few adjustments to the contribution account salary of insured persons, announced the General Retirement and Social Insurance Authority (GRSIA) in Qatar.
The amendments introduced by the GRSIA apply to insured persons residing and working in Qatar, as well as to insured individuals covered by the insurance protection extension system in the UAE and other GCC countries, according to a press release issued today by the UAE's General Pension and Social Security Authority (GPSSA).
The contribution account salary with the GRSIA is now composed of the basic salary, the social allowance and the accommodation allowance, provided that the contribution account salary does not exceed 100,000 Qatari Riyals (AED100,865.31). As of 3rd January 2023, the contribution calculation salary due from the insured individual has increased to 21 percent, out of which the employer pays 14 percent and the insured the rest of the seven percent.
As per the protection extension system, the employee and his/her employer are obligated to bear their share in the contribution account salary in accordance with the percentages applicable by the law or as per the employee’s home country’s social security and pension scheme, provided that the employer’s share does not exceed the percentage applicable in the country where the work is located.
If an entity’s/employer's contribution is less than the required percentage, the Qatari employee must cover the difference in the contribution amount in order to ensure contributions are paid in full to the pension authority as per the relevant regulations.