At Bondoni, we make a constant effort to communicate regular updates from the ministries and the government to ensure our clients remain compliant with evolving regulations. We like to stay in the frontline to avoid any discrepancies.
Please ensure you read these updates carefully to stay informed and avoid potential penalties.
- Social Protection Fund (SPF)
Following the implementation of the Social Protection Law (Royal Decree No. 52/2023), the Social Protection Fund (SPF) has replaced the Public Authority for Social Insurance (PASI). The SPF introduces a unified social security system aimed at enhancing social protection for employees across all sectors. Please make sure you are compliant with the SPF requirements.
- All Employees must be registered with the Ministry of Labour (Bondoni will provide that service)
- On registration of MOL, they are automatically registered with the SPF.
- On the first day of the month, obtain your SPF fees from the SPF portal
- Payment must be made by the 15th of the month. We recommend that you pay it by the latest of the 12th of the month.
Failure to comply will result in fines for the first two months and CR document suspension at the end of month 3.
Bondoni is already supporting many clients. So if you wish us to provide similar services please let us know. To know more, visit Ministry of Labour mandates WPS Registration for all Companies
- Wage Protection System (WPS)
The Ministry of Labour (MoL) has mandated all companies, regardless of size, to register under the Wage Protection System (WPS). This system ensures the timely transfer of salaries to employees’ local bank accounts, allowing authorities to monitor wage compliance and intervene in cases of delay or non-payment.
Employer Requirements:
- Register with WPS through their local bank.
- Submit required documents (Commercial Registration, OCCI card, tenancy agreement, and bank forms).
- Salaries must be paid no later than the third day of each month to remain compliant (Bondoni recommends before the end of each month).
- Failure to comply may lead to warnings, penalties, or company restrictions in the Ministry of Labour system.
Salaries for all employees including the first employee of the company must be paid through WPS. The Ministry is no longer allowing any flexibility for this. To know more, visit https://bondoni-me.com/2024/05/30/ministry-of-labour-mandates-wps-registration-for-all-companies/
Navigating these new regulations can be complex, but Bondoni is here to assist. If you require support in SPF registration or WPS compliance, please feel free to reach out to us.