FGTS 2022 By forming an account related to the employment contract, the Employee Severance Indemnity Fund (FGTS) seeks to safeguard employees who are fired without fair reason.
Employers deposit a sum equal to 8% of each employee’s pay in accounts created at Caixa Econômica Federal at the beginning of each month on behalf of workers.
The FGTS is one of the most well-known social benefits in Brazil, and despite being one of the most important worker rights, many people are unaware of the issues concerning the FGTS this year.
With that in mind, we will address this subject in order to convey the major changes to the FGTS for the year 2022 and assist you in your financial planning.
What are the changes in the FGTS 2022?
Extraordinary FGTS Withdrawal
FGTS 2022 Workers will be able to withdraw up to R$ 1,000 from the Severance Indemnity Fund beginning April 20. (FGTS). The amount released will be determined by each person’s fund balance, which is calculated by adding the amounts available from all of their FGTS accounts.
Caixa Econômica Federal issued an Extraordinary Withdrawal schedule based on the worker’s month of birth, which may be used until December 15, 2022. Those born in January will be the first to receive, beginning on April 20. On April 30th, those born in February will be eligible to withdraw the funds.
The credit of the FGTS Extraordinary Withdrawal will be carried out in a Digital Social Savings Account, which Caixa will immediately create on the employees’ behalf.
After crediting the amounts, you will be able to pay bills and bills, as well as use the virtual debit card to make purchases in shops, websites, or apps. The funds may be moved to other bank accounts as well. Customers may use Pix to conduct transactions in addition to withdrawing cash from Caixa’s self-service terminals and lottery shops.
If a worker does not choose to make the FGTS Extraordinary Withdrawal, he must access the FGTS Application or visit one of the bank’s offices to advise the bank that he does not wish to get the credit.
birthday withdrawal
FGTS 2022 In addition to the potential of the Extraordinary Withdrawal, the birthday withdrawal is still feasible. Workers may take a portion of their FGTS funds once a year. Those who want to switch to annual withdrawals must notify Caixa.
Anyone who elects to receive a part of the FGTS each year will be unable to withdraw the whole balance of the account if dismissed without reasonable cause. You only get a fine of 40% of the FGTS, which remains unchanged. If you change your mind and wish to return to the prior model (being able to take the whole sum from your account if dismissed without reason), you must apply to Caixa and wait two years for the change.
The withdrawal will always be released on the first day of the worker’s birthday month. For people having a birthday on July 19, for example, the withdrawal will be accessible beginning July 1.
In actuality, the birthday loot works according to the following system:
- who has a debt of up to R$500.00: will be charged a 50% interest rate and will not be eligible for an extra payment;
- balance between R$500.01 and R$1,000.00: The interest rate is 40%, and the extra payment is R$50.00.
- Balances ranging from R$1,000.01 to R$5,000.00 are subject to a 30 percent interest rate and an extra payment of R$150.00.
- Balances ranging from R$5,000.01 to R$10,000.00 are subject to a 20% interest rate and an extra payment of R$650.00.
- Balances ranging from R$10,000.01 to R$15,000.00 are subject to a 15% interest rate and an extra payment of R$1,150.00.
- Balances ranging from R$15,001 to R$20,000.00 are subject to a 10% interest rate plus an extra R$1,900.00 payment.
- Balances more than R$20,000.01: 5% interest rate and the right to an extra R$2,900.00 payment.
As can be seen, people with a lesser account balance may withdraw at a larger proportion. The proportion is smaller for individuals with a larger balance.
PIS/PASEP withdrawal
FGTS 2022 Along with the availability of FGTS resources, legislative amendments continue to enable withdrawals from the PIS/PASEP Fund. The following are the rules:
- The benefit may only be taken out once.
- PIS withdrawals are possible at Caixa branches, whereas PASEP withdrawals are possible at Banco do Brasil.
- In the case of the beneficiary’s death, the dependant must go to the INSS to obtain the amounts as an heir, which will now be made easier.
- There is no time limit for withdrawing the funds.
Remember that the PIS payment schedule is by month of birth, with individuals born in January receiving payment on February 8th. As a result, the payment will expire on March 31, 2022. Brazilians, on the other hand, have until December 29, 2022 to withdraw the funds.
40 percent fine and additional resource-utilization options
FGTS 2022 There was no change in the rules regarding the 40% fine applied in cases of dismissal without just cause, even if the worker chooses the birthday withdrawal method. In other words, regardless of the manner of withdrawal selected, his right is safeguarded.
Furthermore, it is crucial to note that the other options for utilising the FGTS balance, such as the aforementioned property purchase, withdrawal in the case of severe sickness, retirement, and death, did not alter with the adoption of the temporary measure.
What is the profitability of the FGTS?
FGTS 2022 The money amassed by the guarantee fund are distributed by the federal government. Caixa Econômica handles for the FGTS profit, which is distributed to the beneficiaries on an annual basis. The transfer occurs for both active and inactive accounts, and the amount fluctuates depending on what is computed during the year. adhere to the specifics
The profitability of FGTS is specified by Law No. 8.036/90, which states that deposits made in linked accounts must be adjusted monetary every 10th of the month, depending on the criteria given for updating the balances of savings and capitalization deposits.
Profit must be paid to all employees who have a balance in their accounts at the conclusion of the previous year, according to the legislation. The amount is not set and will fluctuate according on the balance in the citizen’s accounts as of December 31, 2021.
For example, in 2021, almost BRL 8.129 billion of the BRL 8.468 billion collected were placed in qualifying accounts – comparable to 96 percent of the fund’s entire revenue.
To withdraw, first check your balance on the FGTS app. Knowing that there is money available, the withdrawal process must be completed in a Caixa Econômica bank branch.
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How to use the FGTS to buy your own home?
To be eligible to utilise Guarantee Fund money to buy your own house, you must first complete the standards listed below:
- have a minimum of three years of labour, consecutive or not, under the FGTS system;
- not possess any current real estate loan provided by the Housing Finance System (SFH) in any area of the nation;
- not own another finished or under construction residential property in the same municipality where you work or live (including neighbouring municipalities or municipalities that are part of the same Metropolitan Region).
If you fulfil these conditions, you may put the money in your FGTS account in one of three ways. We’ll go through them in further detail in the next sections.
purchase and construction
If you wish to buy or construct a house, you may use your FGTS balance to pay a portion or the whole purchase price.
Amortization or settlement of the outstanding balance
If you already have a real estate loan signed inside the SFH, you may utilise your Guarantee Fund to completely or partially pay off your obligation.
Payment of part of the value of the installments
If you already have a loan and are having difficulty keeping it current, know that you can use the FGTS to pay up to 80% of the instalment value in up to 12 consecutive months.
Is it possible to use the FGTS in the real estate consortium?
Your FGTS may also be used to bid on a property or as a supplement to a letter of credit. That is, if you do not have the money but have a balance in your FGTS account, you may seek a withdrawal to finish the purchase of a home.
In addition, the consortium member may also utilise these sums for amortisation or settlement of the negative balance, if envisaged .
With so many options available, this might be a great moment to realise your goal of buying a house. If you have the means, prepare ahead and don’t pass up the opportunity to take this critical step in your life.
As a result, if you are shopping for a property and want to engage a consortium, consider these options. Surely one of these will be suitable for your requirements.
As a result, now that you’ve cleared up any confusion concerning the most recent revisions in PIS and FGTS regulations, you’re more educated and equipped to make the appropriate judgments.