The wage subsidy is financial aid to local employers who have been affected by the current situation as a result of the Coronavirus pandemic and who have lost more than 25% of their income. The primary purpose of the salary subsidy is to help retain employees, despite the loss of sales and turnover. Employers who receive financial support are obliged to pay 60% of the SVb wages and up to the SVb wage limit of Afl. 5,850.00 per month. Depending on the number of applications, it can be decided whether to reduce the SVb wage limit of Afl. 5,850 in order to not exceed the available 49.4 million for the month of June.
Not all employers are eligible for a wage subsidy. There is a list of requirements that the employer must meet. One of the requirements is that the company anticipates a loss of sales of 25% or more. Companies must be registered with the SVb and the Tax Authorities and must continue to pay their taxes and social contributions. The wage subsidy is only intended to help pay the salaries of their employees, including the respective social contributions, which must be paid by the employer.
The employers who are eligible to apply for a salary subsidy for the month of June will receive a notification from the SVb on June 1, 2020. SVb will automatically send the notification to the email address of the employers registered with the SVb. After receiving the e-mail, the employers must log in to the MiSVb digital portal using his / her login details. The form must be filled out completely and next, you have to click on the icon “ENTREGA PETICION”.
To support employers, the June subsidy is paid in advance as based on the expected loss of income for June. The employer will estimate its income for the month of June 2020. The difference between June 2019 and June 2020 in percentage is the estimated income loss that must be filled in on the application form.
SVb reminds all employers that it is very important to keep the contact details, employee wages, as well as bank account updated and correctly indicated in the SVb system. During the first round, the SVb found that the data from various employers were incorrectly registered in the SVb system and could, therefore, have undesired consequences for the employer.
Employers who need more information about the salary subsidy can request this by sending an e-mail to the Service Center at firstname.lastname@example.org or consult the SVb webpage, subject Salary subsidy (employer).