WPS – points to note

November 17th, 2009 by Stephen Jones Leave a reply »

Emiratis will need a labour card to get an employee id if they are to be paid via WPS

Companies should negotiate and agree the transfer fees with their bank

Advise employees asap of the changes – payments have to be in AED ¬ and to a local bank  – some employees may need to set up standing orders for salary transfers overseas

Expect some hiccups – its doubtful that every bank or agency  has fully tested this system, or  even whether they have enough staff or computer processing power for multiple, additional companies doing transfers at month end – so advise your staff  to ensure they should budget to have enough cash at month  should the system have delays that hold up salary transfer in the initial months.

Do a  thorough check on your employee data especially to ensure correct MOL employee id and bank route and account details are held.

There is a backlog of companies who have taken appropriate action – and only a finite number of bank staff and HR and payroll consultants in the market ,and even the MOL itself cannot handle  inquiries from multiple companies simultaneously.  With EID holidays, and year end approaching its important to take early action

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