Saudi Gazette report

RIYADH — The General Organization for Social Insurance (GOSI) has announced a significant initiative aimed at waiving fines for employers related to delayed payments or other violations.

This move is part of GOSI's broader efforts to rectify the status of entities in violation, settle outstanding debts, and alleviate the financial impact on businesses, while ensuring adherence to insurance obligations to protect the interests of both employees and employers.

Starting March 3, 2024, social insurance subscribers will have a six-month grace period to take advantage of this initiative.

The goal is to lessen the financial burden on companies that have accrued fines and to motivate them towards rectifying their status for insurance compliance.

Eligible employers will be granted full exemption from these fines, contingent upon the settlement of all due insurance subscription fees.

GOSI encourages all employers who have incurred fines to seize this opportunity for relief.

To avail of the initiative, employers are instructed to apply via their organizational account on the “My Insurance Business” platform, following a straightforward application process.