Wataha.no
Send report Radio TV Your account

Wage Guarantee Fund - for whom? NS. 1

add to Favorites
Rate the article
Rate the article

Are you running a company? Are you an entrepreneur? Your company is in crisis? You can use the Wage Guarantee Fund. Today we present the advantages of such a solution. It is undoubtedly a kind of "lifebuoy" that protects against really serious problems. What is the Wage Guarantee Fund? Who can use it?

What is the Wage Guarantee Fund?

The Wage Guarantee Fund allows you to cover outstanding wage claims at the time of bankruptcy of the enterprise. It is worth adding here that the wage claim guarantee system also applies to claims covered by the judicial division of the property of an insolvent deceased person, wage claims, in the case of compulsory liquidation of the employer's activity, and all claims against insurance companies, banks taken under receivership.

Who can use it?

Applies to all activities where the employer (owner) regularly pays employees' social security contributions. The fund mainly concerns:

  • people running a business and providing services based on a mandate contract,
  • shareholders who own at least 20 percent of the ownership interest in the company. However, this does not apply to persons who can document that they do not have a significant influence on the company's operations.

See also: Employment law in Norway (interview)

What can you receive from the Fund?

Amount received under support program allows you to cover:

  • Pay and salaries up to 6 months back,
  • A leave equivalent earned in the same year as the date of receipt of the bankruptcy petition with the court and in the preceding year,
  • Pension benefits in a maximum of 6 months,
  • Compensation obtained for them salary in a maximum of 6 months,
  • Interest on outstanding wage claims up to the date of receipt application for the initiation of bankruptcy proceedings to the district court and the costs of debt collection,
  • Related costs with submitting an application to initiate bankruptcy proceedings against the employer.

Before you fall into a debt spiral ...

To sum up, it is worth using the Wage Guarantee Fund if your company is located in... difficult situation financial and business. Do not give up! Don't get caught up in the spiral of debt and financial arrears. Have control over transactions and liabilities - both those relating to your company's employees and business partners.

Also read: Foreign trucks in Norway and toll avoidance

Weather

loader image
Oslo, NO
10:37 a.m., May 3, 2024
temperature icon 16° C
heavily cloudy
Humidity: 40%
Pressure: 1020 mb
Wind: 4 mph
Wind Taste: 7 mph
clouds: 100%
Visibility: 0 km
Sunrise: 5:08 am
Sunset: 9:18 pm

Exchange rate

Polish zlotys

1 PLN

=

NOK

0,375

Norwegian crown

SEK

0,384

Swedish Krona

EUR

4,310

Euro

USD

3,932

United States dollar

Featured Articles

Latest articles

Vision problems affect an increasing number of young people

Eyesight problems affect an increasing number of young people. More young people in Norway have vision problems. This is shown by the Consumer Survey 2024, in which Kantar interviewed 1400...


16 percent do not know that it may end in prison. Would you stop a drunk driver?

16 percent do not know that it may end in prison. Would you stop a drunk driver? Would you stop a drunk driver from getting behind the wheel? 16 percent of Norway's population…


Electric cars banned on public transport lanes in Oslo and Akershus

Ban on electric cars on public transport lanes in Oslo and Akershus The Norwegian Public Roads Authority is introducing a temporary ban on electric cars on public transport lanes from May 6...


Visit our social networking sites