We would like to remind you that until 31 January 2024, employers with fewer than 50 full-time employees (as at 1 January) are obliged to inform employees that they have not established the Company Social Benefit Fund and are not paying holiday allowance.
The obligation to create a Social Benefit Fund applies to employers with at least 50 full-time employees. Employers with fewer employees have the option of:
- creating a Social Benefit Fund or paying holiday allowance, or
- opting out.
For this purpose, employer must make the appropriate decision and inform employees about it.
Failure to comply with the information obligation, in addition to the need to establish a Social Benefit Fund or pay holiday allowance, results in the risk of imposing a fine on the employer and pursuing claims for holiday allowance by employees.
