The Severance Pay Guarantee Fund (FGTS) is an essential benefit in the Brazilian labor context that provides financial security to workers. This fund is made up of monthly deposits made by employers into accounts linked to employees.
The FGTS modalities cover different situations and circumstances, guaranteeing a variety of benefits to workers. Therefore, see below for more details on the FGTS modalities.
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Anniversary withdrawal, is it worth joining this option?
It is important to highlight that the main idea behind the birthday withdrawal was to encourage savings and ensure that Brazilians had access to the fund's resources annually. Therefore, this modality allows citizens to withdraw the amount from the fund in the month of their birthday.
In other words, this is a great advantage, since it is possible to access the amount annually. However, it is important to highlight that in cases of dismissal without just cause, the person cannot withdraw the entire amount, only the money corresponding to the termination fine.
Another disadvantage is that if the employee wants to return to the severance pay option, they will have to wait two years to move the amount again. Therefore, it is necessary to carefully evaluate both options to choose the best one for you.
FGTS termination withdrawal
The severance pay is a type of FGTS that occurs when an employment contract is terminated without just cause. When an employee is dismissed without justification, the employer must pay the severance pay fine. This amount consists of 40% of the total balance of the employee's linked FGTS account.
Therefore, the amount corresponding to this fine is a financial compensation to the dismissed employee, serving as an economic support during the transition period between jobs. It is important to note that this amount does not interfere with the withdrawal of the total FGTS balance by the employee.
In addition to the termination fine, the employee may withdraw the total amount deposited monthly by the employer during the term of the employment contract.
Image: Agência Brasil
