Oman announces new social security law
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Effective from 01 January 2024, the Omani government through royal decree No. 52/2023 issued the new social security law which replaces existing social security law.
Following table provides the new rates along with monthly ceiling amounts for the different insurance schemes:
| Insurance scheme | Employee share | Employer share | Total | Maximum salary (OMR) |
|---|---|---|---|---|
| Insurance for Old Age, Disability, and Death | 7.5% | 11% | 18.5% | 3,000 |
| Insurance for Work Injuries and Occupational Disease | 0% | 1% | 1% | 3,000 |
| Insurance for Employment Security | 0.5% | 0.5% | 1% | - |
| Insurance for Maternity Leaves (effective July 2024) | 0% | 1% | 1% | - |
| Insurance for Sick and Other Leaves (effective July 2025) | 0% | 1% | 1% | - |
The monthly contributions are calculated for the number of days worked in a month i.e., on the salary earned during the month.
Please contact your Mercans’ services delivery team for any additional information regarding the implications of the above change.
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Oman Announces New Social Security Law
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