Salaried class welcomes new wage protection system
The salaried class have welcomed the new Wage Protection System (WPS) of the Ministry of Manpower that came into force recently.
The new system holds significance as there have been delays in the payment of salaries in the small private sector companies.
As per WPS, employers must provide detailed information about the salary payment transactions as specified by the ministry. The details must be directly sent from the corporate payroll system.
“My company has been delaying salary payments by days. The entire cycle of getting salary has been disturbed for months now. Our questions are being answered now,” said an employee of a contracting firm.
He hoped with the WPS the companies will be made to respond by the ministry.
Several employees in the account departments told the Observer it is not always possible to provide the exact answers that employees ask for.
“We share their concerns; accountants too are employees in the same set-up,” said Jaidev, an accountant with 30 years of experience in Oman.
He is not sure how the WPS will help the employees directly but welcomed the monitoring system.
“If the cash flow to the company is erratic, then there will be issues related to salary payment. At the same it’s not possible to share all details with employees,” said the chief financial officer of a leading business group.
“My company never pays salary on a fixed date though it is credited every month. It makes me adjust my loans and other payments now and then,” said Salem al Balushi, a student and employee.
WPS is a joint programme between Ministry of Manpower and Central Bank of Oman to ensure companies’ commitment to transfer wages of employees to their accounts at the time and amount agreed upon in their contract. The new system holds significance as there have been delays in the payment of salaries in the small private sector companies.