MANAMA: Bahrain Chamber of Commerce and Industry in coordination with the Social Insurance Organization (SIO) held an introductory seminar at Bait Al Tijjar.
The seminar which aimed to enlighten the private sector about the new procedures followed by the SIO with regards to the deduction of social insurance premiums witnessed wide participation from the private sector.
“Organizing such seminar stems from our responsibility to keep the private sector informed of important updates, and allowing it the chance to raise inquiries and dissolve any ambiguities,” CEO of Bahrain Chamber Eng. Nabeel Al Mahmood said.
From her side, Head of the Reception center of SIO Nahed Al Subaiee said that this joint seminar aims to clarify the new procedures which entail deducting insurance premium from the insured and the employer which varies upon the institution’s activity, size, the number of employees, as well as the qualification and profession of the insured, nationality, and years of experience.
The following points explain the rationale behind adopting the new procedures, as explained by SIO representative:
1. The SIO has not set a minimum-wage floor, and endorse all wages data as provided by employers, while having the right to investigate the accuracy of the data provided as according to Law Article (122) of Decree Law (24) of 1976 regarding the issuance of Social Insurance Law.
2. The SIO has repeatedly witnessed cases of false wages information, leading to the stalling or prolonging of the paying procedures of employees receivables particularly in the case of the death or work-site injury.
3. In its stride to develop its system and integrate it with other bodies in Bahrain, the SIO witnessed many cases wherein the actual wage is below the registered one in its records, which comes in violation to the law.
4. The SIO’s initiative to collect the documents proving the wages of the employees stems from the need to enforce law and secure the rights of the beneficiaries.
5. The SIO will not impose additional charges or fees on the employer, and the procedures taken are measures to ensure law enforcement.
6. The SIO reassures employers that the measures taken are in the best interest of all parties, and will not harm or impair the employers as long as they abide by the law and procedures and present the needed documents upon request.
Al Mahmood called the SIO to give a grace-period to the private sector, allowing it to prepare and provide the needful, and expressed that Chamber’s faith that the measures taken by the SIO will secure the rights of both parties and will not be prejudiced against the private sector.