2023 Country Regulations (August - October) Internal

Info

In the tabs below you will find updates to country regulations in August and September 2023, many of which may impact employee benefits and/or costs of employment.

As always, if you have any questions or concerns, please reach out to Velocity Global through your normal process, and we will help you. 

Indonesia

Employer Contribution Increase

A new employer contribution (JSHK - Jaminan Sosial Dalam Hubungan Kerja Diluar Jam Kerja) is due effective starting August 2023. JSHK is a social security fund that provides coverage for employees in the event of accidents occurring outside of working hours. All employees who are not covered by a company’s medical insurance plan must be enrolled in this program. The contribution is calculated as 0.24% of the employee’s basic salary.

Pakistan

Effective 20 September 2023, the minimum wage in Punjab province has increased as follows:

• Unskilled Employees: Rs. 32,000 (for 26 working days)
• Daily wage for eight working hours: Rs 1230.77
• Skilled Employees: Rs. 44,397 (for 26 working days)

Effective 1 July 2023, the minimum wage in Khyber Pakhtunkhwa has increased as follows:

• Adult, unskilled, juvenile, and adolescent workers employed in industrial establishments and commercial establishments
• Rs.1230.77 per day (8 hours)
• Rs. 32,000 per month (26 working days)

Singapore

Employer Contribution Increase

Effective September 1st, 2023, the monthly ceiling for the Central Provident Fund (CPF) employer contribution has increased from SGD 6,000 to SGD 6,300. Depending on an employee’s salary, this will lead to a slight increase in employer contributions.

United Arab Emirates

All employees in the UAE are required to take out unemployment insurance (this is an individual responsibility). This requirement has been in effect since 1 January 2023, but as of 1 October 2023, the Emirati government is beginning to impose fines on employees who have not taken out this insurance. Find more information here.