The Qatari government’s recent adoption of a new law discusses the extension of the private sector social security system and an increase in social security contribution rates. This extended law has been passed to motivate Qataris to work in the private sector and to reduce the adverse effects of early retirement.
Beginning on January 3, 2023, the new law will also be applicable to private sector employers who hire Qatari citizens are required to make contributions to the social security funds of their Qatari citizen employees, whereas presently, the law pertains only to employers in the public sector.
The monthly contribution rates to these funds will rise from 15% to 21% of an employee’s basic income or compensation as from January 3, 2023, with a threshold of QAR 100,000. Employers will be required to provide 14% and employees will be obligated to contribute 7%, with few exclusion. Employers who violate the proposed regulations incur a maximum six-month jail sentence and a QAR 30,000 penalty.
Also, this law is intended to support Qatar’s 2030 National Vision, which aims to ensure that Qatar develops into an advanced society able to maintain its growth and ensure a high living standard for its citizens.
HLB HAMT to assist!
Employers that are impacted by this can get assistance from HLB HAMT by reviewing their mandatory contributions and, if necessary, revising internal procedures.
If you have any queries, please get in touch with our experts or send an email to payroll@hlbhamt.com
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