The Finance Minister of UAE has approved a rule which comes into effect on 01.04.2009 and it states that all privately held companies need to give a minimum salary increment of 15% to all employees every six months during the years of recession.
This comes as a relief to petitioners appealing against the growing work hours in the privately held organizations (including private banks) and which do not have a proper system to check overtime.
The rule further mentions that all employees be provided a minimum of 20 days of casual leave every year.
Please see the below link for the list of companies which will be brought under the umbrella of the new rule in the first round of implementation.
And if the name of your company features in the list, kindly circulate this mail amongst your colleagues.
http://img3.imageshack.us/img3/2787/uaeministryoffinancelis.jpg
