09/09/2024 – 6:00
The FGTS – Time of Service Guarantee Fund – is a benefit that workers who work under the CLT regime, with a signed employment contract (CTPS), are entitled to receive.
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The employer must deposit an amount corresponding to 8% of the worker’s gross salary into the FGTS account each month, or 11.2% in the case of domestic workers. The deposit must be made by the 20th of each month and cannot be deducted from the worker’s salary.
However, a survey by IFGT (Workers’ Guarantee Fund Institute) shows that 215,000 companies are not depositing their employees’ FGTS. These companies are registered with the Federal Government’s Active Debt. The total value of this FGTS debt amounts to R$45.8 billion.
As a result, it is estimated that at least 5 million workers who work or have worked in these companies have a lower balance in the Guarantee Fund than they are entitled to. Therefore, it is recommended that workers check whether their employer is making deposits of their FGTS.
How do I know if my employer is making deposits?
The worker must access the website or the FGTS application – available in versions for Android and iOS – and check the monthly deposits on the account statement, where the deposit date and the amount deposited appear.
Anyone who cannot make the query online should go to any Caixa branch and request the statement at the service desk.
The bank also sends the FGTS statement in paper form every two months to the registered address. Anyone who has moved should go to a Caixa branch or call 0800-726-0101 and inform the new address.
What to do if there are no deposits?
Mario Avelino, president of IFGT, advises that, if the worker feels comfortable and the company has a good environment, they should first check with the employer’s HR or personnel department.
The worker can also seek out some of these institutions to report:
Avelino reminds us that all complaints are confidential and the data is protected by law.
FGTS income
It is important for workers to keep track of their FGTS account balance, as the amount has an income. In June, the STF (Federal Supreme Court) ruled that the FGTS balance must be adjusted by the Broad National Consumer Price Index (IPCA), an index used to measure the country’s official inflation. In other words, the income from the balance must be at least the percentage of inflation recorded by the IPCA.
In practice, the Supreme Court’s decision ensures that the balance follows inflation, without the worker losing purchasing power on this account.
In addition, FGTS profits are distributed to workers every year. In 2024, the FGTS Board of Trustees decided to distribute 65% of the Fund’s record profit of R$24.3 billion in 2023. The amount that each worker is entitled to receive from this profit is related to the balance in their accounts linked to the Fund.
What is FGTS?
The FGTS – Fundo de Garantia do Tempo de Serviço (Employment Severance Fund) was created in 1966 and came into effect in January 1967. The idea was to create a type of security “savings” for workers, whether in the event of unfair dismissal, to guarantee resources in the event of unemployment, retirement or to be used by dependents in the event of death. It can also be used in the event of housing financing or serious illness.
In the case of dismissal without just cause, the employee receives the FGTS balance plus a 40% fine on the amount.
The total amount of the Fund is also a source of resources for the financing of housing, basic sanitation and urban infrastructure programs.
Search
The Workers’ Guarantee Fund Institute (IFGT) is launching a survey to assess the profile of Brazilian workers and test their level of knowledge about the Workers’ Guarantee Fund. The survey will be available until September 30 on the website www.fundodegarantia.org.br.
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