The period of exemption from additional amounts due for October and November subscriptions has ended

The General Pensions and Social Security Authority announced the end of the period for extending the payment of contributions for the months of October and November 2024, a circular through which the Authority had previously announced that employers would be exempted from bearing any additional amounts arising from the delay in paying contributions for the months of October and November.

The Authority urged employers to continue paying contributions to avoid any additional amounts arising from delays in paying them beyond the specified dates.

Statistics on subscription payment invoices for business owners for the month of October 2024 show that the total number of invoices issued to active employers from the “Maashi” platform reached 15,441 invoices, and the total invoices approved by employers reached 13,334 invoices, meaning an approval rate that reached 86.3%, while the total number of invoices approved by employers reached 13,334 invoices. The total number of invoices paid was 12,870, meaning a payment rate of 83.3%.

Statistics for the month of November 2024 also show that subscription payment invoices for active business owners issued by the platform amounted to 15,359 invoices, of which the total invoices approved by employers reached 13,544 invoices, meaning an approval rate of 88.1%, while the total invoices paid amounted to 12,998 invoices, i.e. The payment rate reached 84.6%.

The Authority explained that the additional amounts resulting from delay in payment are 0.1% of the due contributions for each day of delay without prior notice or warning. Subscriptions, according to the law, are due from the first of the month following the month for which they are due and may be extended until the fifteenth day of this month. .

She indicated that the contribution rates according to Federal Law No. 7 of 1999 for pensions, social insurance and amendments are 20%, the percentage of insured people working in the government and private sectors is 5%, and the employer’s percentage is 15%, and the government bears 2.5% of the employer’s percentage in the private sector to support citizens. employees and to encourage the employer to attract them.

According to Decree Law No. 57 of 2023 regarding pensions and social insurance, the provisions of which apply to new entrants to the labor market starting from October 31, 2023 and who do not have an insurance record with the Pensions Authority, the percentage of contributions due from them is 26%, whether they work in the government or private sector. The insured bears 11%, the employer bears 15%, while the government bears 2.5% of the employer’s percentage. Citizens working in the private sector whose contribution account salaries are less than 20,000 dirhams.