To sweeten the difficulties associated with the coronavirus pandemic, which will restrictly affect – it leaves no doubt – also for our summer holiday, we have definitely better conditions than before to use the social fund – not only in the form of such popular lump sum holidays. To this family they will get vouchers of PLN 500 for each child for the purpose of vacation – the Sejm adopted the relevant act.
First Children’s Day, then holidays and holidays; the period in which we are most intensively seeking co-financing from the social fund is approaching faster and faster.
It was supposed to be a 1000+ voucher for every full-time employee with an income not higher than the average wage, eventually it ended on a 500+ voucher for each child intended for rest: holidays, summer camps or camps. Not cash, but always a lot of support during the holidays. The Sejm passed a relevant law in a flash and it will almost certainly be possible to use this form of financing in a few weeks on holiday 2020, and if not, for another year – 2021.
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New for children. Click and read!
Greater benefit and greater exemption from PIT
Traditionally, the holiday expenses support – employee and family – is the company social fund.
When choosing benefits for employees, the employer should first look at the issue of income tax settlement and ZUS. Under the law, everything that a company offers to an employee is income from an employment relationship and is therefore taxable. There are, however, some exceptions – cash and material benefits are exempt from tax, e.g. Children’s Day gifts for employees’ children or co-financing of holiday and vacation events, financed by the employer from the resources of the Company Employee Benefits Fund (ZFŚS) or trade union funds up to a certain amount .
Even before anyone was able to realize what consequences a pandemic would have for our lives, at the beginning of this year, for the first time in many years, the value of the write-down for the Company Social Benefits Fund (ZFŚS) was raised by as much as PLN 321 per employee employed in normal. In practice, this means an increase to PLN 1,550.26.
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The second good news for both employers and employees – this time as a consequence of special regulations in connection with coronavirus – is that the current amount of exemption from fiscal burdens, which was PLN 1,000, was doubled – up to an amount not exceeding PLN 2,000 in 2020 and 2021.
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What companies is the social fund in?
According to the legal status as of January 1, 2020, the obligation to create a Company Social Benefits Fund applies to companies employing at least 50 employees on a full-time basis or if a trade union organization applied for the creation of funds – this applies to enterprises employing 20 to 50 people. The obligation to create such a fund also lies with all budgetary units and local government budgetary establishments.
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Worth knowing, click!
– Funds set aside under the Company Social Benefits Fund must be collected by the employer on a separate bank account and used for social support of employees. Companies that plan to appreciate and motivate employees at this time using the Company Social Benefits Fund must remember that, in accordance with applicable law, the value of benefits financed from this fund should be varied and depend on the family, material and life situation of employees. The terms of allocating funds from the Company Social Benefits Fund for individual purposes and types of social activities are specified in the regulations by the employer – says Katarzyna Turska from Sodexo Benefits and Rewards Services Polska.
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