Dubai Multi Commodities Centre (DMCC), in collaboration with Dubai Insurance Company (DIC) have launched a new “Employee Protection Insurance (EPI) Programme” to provide more comprehensive benefits for all DMCC and member company employees. The said programme will offer increased protection for DMCC employees in the event their employers default on salaries, gratuity or repatriation cost.
Effective 19th May, 2020, Employee Insurance Scheme (EPI) programme will replace the bank guarantee requirements for every DMCC member’s employees during the submission of visa and permanent identity card related service request, with a certificate of insurance to be issued upon completion of the application.
To avail this benefit, as per DMCC notes:
- All visa-related service requests saved as ‘Draft’ on the Member Portal will be cancelled on 19th May, 2020, therefore you will need to initiate a fresh service request
- All visa-related service requests in progress on the Member Portal will go through the existing Bank Guarantee process
- DMCC encourages you to renew your due employee visas to avail the benefits below:
- The AED 3,000 bank guarantee will be refunded upon the renewal service request being approved and closed
- The EPI for renewed employees will cover the following in case their employer defaults:
- Unpaid salaries
- Unpaid air ticket allowance
- End of service payments.