The Wage Protection System (WPS) developed by the Central Bank of the UAE (CBUAE), allows the DMCC Free Zone to create a database that records wage payments in the private sector to guarantee the timely and full payment of agreed-upon wages.
This document is designed to brief you on how you as a registered DMCC Free Zone company can register your employees for salary transfer and be in compliance with the Authority.
- All DMCC registered companies ‘employers’ are obliged to register all their employees holding an active/ expired employment visa or Permanent Identity Card (PIC) for the salary transfer with a Bank/ Exchange House. This is applicable for both; employees having a bank account ‘banked’ and employees not having a bank account ‘unbanked’.
- Shareholders are not obliged to register for salary transfer. If a shareholder claims dues from the company in respect of unpaid salary, end of service, etc., he/she can apply for Workplace Mediation with DMCC Disputes Centre and request for a No Objection Certificate (NOC) to register a court c...