Minister of Finance Approves Amending, Adding several Registration’s Paragraphs, to the Social Insurance System

The “Social Insurance” announced the Minister of Finance, Chairman of the Board of Directors of the Organization Muhammad Al-Jadaan’s approved the amendment and addition of several paragraphs to the list of registration and contributions for the social insurance system, starting from the date of 01/02/2022.

Regarding the most prominent new amendments included in the decision, the Social Insurance explained that the amendments included the amendment and addition of paragraphs, in articles 9 and 21, as the last deadline for employers to add participants, were amended to become at the end of the month of joining, and the last deadline given to employers to exclude participants, was amended to become, at the end of the month of exclusion.

Amending the last deadline granted to employers to complete the data of non-Saudi contributors and submit their wages, will be at the end of the month of joining.

The amendments also included amending the mechanism for calculating contributions for each subscriber, as the calculation mechanism was applied, in days instead of months.

It is noteworthy that the registration and contributions regulation regulate registration of employers and their workers in the social insurance system, and includes the voluntary registration of contributors, in order to achieve good application of the system and achieve its objectives.