WPS Salary Transfer
Salary is provided to employees in United Arab Emirates through a proper electronic system developed by the Central Bank of the UAE. This system is known as Wages Protection System (WPS). Companies and institutions transfer the wages to their workers via banks, bureaux de change, and financial institutions approved and authorized to provide the service. The Ministry of Labour creates a database in this respect for recording payments to workers in the private sector.
The Wage Protection System was initiated by the UAE government approved in 2009 with the purpose to ensure full and timely payment to the people working across United Arab Emirates. It was introduced to benefit labours belonging to different professions and it is covering all institutions registered with the Ministry across all sectors and industries in UAE. Now it’s mandatory for every onshore company to transfer salaries to its employees through WPS. Creating an account on formation of an onshore company with the Ministry of Labour is must. This ministry is responsible for recording and regulating the contracts and visas issues to workers.
The process of delivering payments through this electronic system is like a bridge between the company’s bank account and employees’ bank accounts. If any worker doesn’t have one, a special ATM or debit car is used instead. It’s necessary for all the companies or institutions working in UAE to transfer salaries through this system. In case if a firm goes against the WPS rules, Ministry of Labour suspends its account. As a result, it can’t hire more staff, issue visas and permits, or renew existing visas. Benefit of this system rules is that workers can get their salaries within 10 days of the salary due date. When a company doesn’t obey, it is charged with fine and can be blocked for new staff visa processing if payments are further late.
Every firm or institution browses for a reliable and trusted source when it comes to avail Wage Protection System Services. Especially in Dubai, which is the centre of business world, everyone tries to run his business more and more smoothly without any hassle by the side of employees. So, companies try to transfer pays to their workers’ accounts on time that they can work devotedly with good performance in return. Obviously it’s a matter of transaction where legal process is required so that one can grab its employees’ trust.
Noor Al Samaa is dealing well with its customers in this regard. We are offering full fledge WPS services and solution for the convenience and establishment of well reputation of our valuable clients. Our professional experts with years of experience deliver 100% satisfactory outputs so that our customers can deliver payments to their employees without any hurdle on time and achieving their trust. Noor Al Samaa is a reliable source of getting Wage Protection System Services through legal documentation and fast transaction all over United Arab Emirates whether it’s Abu Dhabi, Dubai, Sharjah, Umm al-Qaiwain, Fujairah, Ajman or Ra’s al-Khaimah. Come avail now!