RIYADH — The Madad platform, which is specialized in depositing salaries of private sector employees, has restricted access to the platform to benefit from its services only through the registered mobile number of the firm’s owner on Absher when requesting to send the verification code, and this new regulation came into force from Tuesday, Feb. 21.
The Ministry of Human Resources and Social Development had granted the private establishments the powers to make the payment through the platform or by signing an agreement with Saudi banks so as to legalize depositing of monthly salaries.
The Madad has announced the annual fee structures for registering and benefiting from the platform’s services by small and medium enterprises (SMEs) on the basis of the strength of employees. The fee has been fixed at SR460 for SMEs with nine or less workers while the fee for firms with employees ranging between 10 and 29 is SR575.
The amount of fees is SR690 for establishments with 30-59 employees and SR805 for establishments with 60-99 employees, while the fee for firms with 100-1000 employees has been fixed at SR920.
The Madad platform provides technical solutions to SMEs in all matters related to salary management systems as well as to facilitate procedures for automating payroll systems.
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