11/03/2024
Gentlmen/ Members of the Chamber
Greetings,
Asharqia Chamber extends its warmest regards and informs you of receiving a letter from the Saudi Chambers Union, number (45504007), dated (29/8/1445 AH), referring to the Union's receipt of an email from the Ministry of Commerce dated (6/3/2024 AD). The email referenced a letter from His Excellency the Governor of the General Organization for Social Insurance, number (30271), dated (19/8/1445 AH), regarding the launch of an initiative by the organization starting from (3/3/2024 AD) for a period of six months.
This initiative aims to incentivize establishments by exempting them from fines incurred before the initiative's launch date, resulting from establishments' delay in paying the subscriptions due to the organization within the specified regulatory deadlines, in accordance with the provisions of paragraph (5) of Article (19) of the Social Insurance Law. Additionally, establishments will be exempted from fines resulting from violations according to the provisions of Article (62) of the same law, in exchange for paying the outstanding subscription amounts to the organization according to the conditions outlined in the announcement of the initiative.
This initiative presents a significant opportunity to rectify the situations of struggling establishments and encourages them to return to compliance with the Social Insurance Law and its executive regulations. The application for the initiative will be automatically processed through the establishment's account on the "My Business Insurance" platform.
Sincerely
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