Oman Public Authority For Social Insurance PASI : Monthly Contribution To Pension Fund
Name of the Organization : Public Authority For Social Insurance
Type of Facility : Monthly Contribution To Pension Fund
Country : Oman
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Official Website : https://www.spf.gov.om/
Monthly Contribution To Pension Fund :
Contributions are the amounts paid by the employee “the insured”, employer and the Government within the insurance system in return of covering the insured against old age, disability and death risks in addition to occupational diseases and work injuries.
Related : PASI Payment of Pension Fund & End of Services Benefits Oman : www.statusin.org/5522.html
Contributions are paid on monthly basis computed based on predefined percentages of the basic salary as follows:
10.5% of the basic salary paid by the employer.
6.5% of the basic salary paid by the insured.
Who can request this service:
Business
Steps to follow to request the service:
Process Steps:
Monthly bills are sent by post or can by printed from PASI website (refer to Obtaining a User Account (Company)) or collected from any PASI offices.
The authorized representative makes payment at one of the following banks – Bank of Muscat, International Bank of Oman, National Bank of Oman, Oman Arab Bank, Bank of Dhofar, HSBC.
The authorized representative takes the receipt of payment to the company as evidence of payment
Special conditions if any applicable:
Company should give valid postal address to receive the bill
To receive the bill on PASI website company should fill service request form.
How the service is processed:
15 days
How long will it take:
3 days
FAQs :
Citizens working in GCC :
Who are covered under the Unified Law of Insurance Protection Extension?
Omanis who are working in the private sector for employers in GCC States who are subject to the provisions of the Social Insurance Laws/Regulations/ Schemes of the state in which they work.
What are the terms and conditions for application of this Scheme?
1) The employee shall be an Omani national.
2) The employee’s age shall not be less than 15 years at the date of joining, nor shall be over 59 at the time of first registration in the Scheme.
3) The employee shall be working for a private sector employer who is covered under the provisions of the social insurance law/scheme of the state in which the employee works.
4) The employee shall not be a retiree of any government unit.
5) The employee shall not be subject to or covered under any other retirement/insurance schemes in the Sultanate.
What is the insurance coverage under the Unified Law of Insurance Protection Extension ?
This Law includes insurance against old age , disability and death but does not cover insurance branch of work injuries and occupational diseases.
What are the required documents for registration at Insurance Protection Extension Scheme?
1) The unified form for Insurance Protection Extension.
2) Copy of work agreement (work contract/appointment decision) approved by competent authority of the work location state.
3) Copy of valid ID card or passport.
4) Approved statement of basic salary progression since the beginning of the employee appointment.