Al Ansari Exchange Wage Payment Agreement

    27. Can I pay once for land trade and free zone licences? – Yes, January 11, 2010: Al Ansari Exchange, a global leader in transfer and exchange services, has introduced the Pay Plus Card, a payroll solution that allows companies to modernize their payroll systems and streamline the preparation and distribution of pay slips by issuing a special pay card to their employees. The industry`s leading compensation solution is fully compliant with the Balance of Payments Protection System (WPS), a wage settlement system required by the Ministry of Labour and the United Arab Emirates Central Bank. In addition to facilitating compliance with the WPS, the solution also provides automated reports on the department`s payrolls and synchronizes their payrolls with the department`s central database. Institutions covered in paragraphs 1 and 2 should begin transferring wages in accordance with Article 2 of this decree in order to lift the ban on issuing new work permits, without prejudice to the imposition of further sanctions on the institution concerned. The compensation solution is consistent with the Wage Protection System (WPS), a wage settlement system required by the Ministry of Labour and the Central Bank of the United Arab Emirates. In addition to facilitating compliance with the WPS, the solution also publishes automated payroll reports from companies in the department and synchronizes their payrolls with the department`s central database. 5. The institution must transfer workers` wages through WPS or on the dates set out in the employment contract within two weeks of maturity, if wages are paid more often than monthly. 21. Do I get an SIF reference number exactly like UAE Exchange? No SIF reference number is generated. All you need to do is make sure you send the completed SIF file and proof of payment (such as an electronic receipt) to AAE and we will make sure your employees are paid.

    · Banks: the financial institution from which the employer has a bank account that is used to transfer the amount of salary to the designated representative via WPS, in order to distribute it to the workforce. All bodies covered by Article 1 of this decree should transfer the salaries of their employees via WPS within the following time frame: the WPS sends the authorized information to the designated agent to start paying the salaries. 2) establishments that, as a result of the adoption of this decree, have not paid the salaries of their employees for a month or more. The Corporate Payroll solution was developed and launched in the United Arab Emirates by Al Ansari Exchange as part of its ongoing efforts to help improve the wage payment process. The solution was implemented in accordance with UAE Ministry of Labour guidelines under the Wage Protection System (WPS) initiative.

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