The new DIFC Employment Law went into effect on January 14, 2020. It changes DIFC Law No. 2 of 2019 (the DIFC Employment Law). The main goal is to replace the current end-of-service bonus system with the DIFC Employee Workplace Savings Plan (DEWS) or a qualifying alternative scheme (QAS). The media has talked a lot about the arrival of DEWS, but there have been some important changes made to the draft law that the DIFC Authority put out for public comment in November 2019.
In this article, we've detailed everything you need to know about the changes made by the DIFC Employment Amendment Law. We will also soon be putting out an outline of the requirements set out in the Employment Regulations for QAS, which go into effect on February 1, 2020. If an employer doesn't get ready for the changes made by the DIFC Employment Amendment Law, they could face large fines and other penalties. Let's explore more throughout the article.
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