Work, Employment and Income
Relacionados
Employee’s Severance Guarantee Fund (“FGTS”)
The Employees’ Severance Fund (FGTS) gives the worker a financial protection in difficult times, such as being fired without just cause or falling seriously ill. The citizen can also use the FGTS to purchase a house or retire.
The FGTS system begins with the opening of an account with Caixa Econômica Federal (in the name of the worker when the employer makes the first deposit, equivalent to 8% of the employees paid salary, added by interest and monetary correction. This percentage will also be valid for the next deposits, which must be made in the beginning of every month.
The withdrawal of the FGTS is allowed under several conditions, such as:
- dismissal without just cause;
- termination of contract for definite period;
- retirement;
- when the worker or dependent suffers from cancer or carries the Human Immunodeficiency Virus (HIV).
- to purchase a house, settle or amortize the debt or payment of part of housing loan installments, etc.
Source:
Brazilian Ministry of Labor (content in portuguese)
Work, Employment and Income
Relacionados
Employee’s Severance Guarantee Fund (“FGTS”)
The Employees’ Severance Fund (FGTS) gives the worker a financial protection in difficult times, such as being fired without just cause or falling seriously ill. The citizen can also use the FGTS to purchase a house or retire.
The FGTS system begins with the opening of an account with Caixa Econômica Federal (in the name of the worker when the employer makes the first deposit, equivalent to 8% of the employees paid salary, added by interest and monetary correction. This percentage will also be valid for the next deposits, which must be made in the beginning of every month.
The withdrawal of the FGTS is allowed under several conditions, such as:
- dismissal without just cause;
- termination of contract for definite period;
- retirement;
- when the worker or dependent suffers from cancer or carries the Human Immunodeficiency Virus (HIV).
- to purchase a house, settle or amortize the debt or payment of part of housing loan installments, etc.
Source:
Brazilian Ministry of Labor (content in portuguese)
Work, Employment and Income
Relacionados
Employee’s Severance Guarantee Fund (“FGTS”)
The Employees’ Severance Fund (FGTS) gives the worker a financial protection in difficult times, such as being fired without just cause or falling seriously ill. The citizen can also use the FGTS to purchase a house or retire.
The FGTS system begins with the opening of an account with Caixa Econômica Federal (in the name of the worker when the employer makes the first deposit, equivalent to 8% of the employees paid salary, added by interest and monetary correction. This percentage will also be valid for the next deposits, which must be made in the beginning of every month.
The withdrawal of the FGTS is allowed under several conditions, such as:
- dismissal without just cause;
- termination of contract for definite period;
- retirement;
- when the worker or dependent suffers from cancer or carries the Human Immunodeficiency Virus (HIV).
- to purchase a house, settle or amortize the debt or payment of part of housing loan installments, etc.
- termination of contract for definite period;
- retirement;
- when the worker or dependent suffers from cancer or carries the Human Immunodeficiency Virus (HIV).
- to purchase a house, settle or amortize the debt or payment of part of housing loan installments, etc.
Source:
Brazilian Ministry of Labor (content in portuguese)
Brazilian Ministry of Labor (content in portuguese)
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