Companies that have employees or intend to hire them should know the advantages deriving from the so-called Interprofessional Joint Funds.
More simply, “Interprofessional Funds.”
What are they? And why can they give significant advantages to employers? Let’s see it now!
Set up Associations by organizations representing social partners, employers, and the most representative trade unions. Not without the prior authorization of the Ministry of Labor and Social Policies, which also supervises them.
Despite using the Italian experience, Interprofessional Funds must be considered a factual reality in any developed country.
Employers pay the Italian National Social Security an extra 1.61% unemployment benefit of their taxable salary. 0.30% is partly intended to finance labor training.
A clear sign of the fact that “vocational training” is considered an inherent aspect of work or professional activity.
The said percentage must be paid, in any case, and always, together with the salaries paid to:
1) permanent and fixed-term employees in the private sector;
2) worker members of cooperatives with employment contracts;
4) middle managers;
7) agricultural workers;
8) workers of municipal companies and former state companies;
9) apprentices; members of small-scale marine, river, and lake fishing cooperatives; personnel with a subordinate employment relationship in the artistic, theatrical, and cinematographic fields.
Not everyone knows it.
This allowance brings the Italian National Social Security substantial monthly resources. Labor accountants automatically calculate it in the pay slips as mandatory.
2/3 of these resources go to the European Union, which allocates them to “active labor policies.”
1/3 ends up in the coffers of the Italian Government.
It must sound like an injustice!
But why does this happen?
Its rate applies in the form of taxation on the pay slip. These resources’ effective use for the professional preparation of employed workers depends on a specific request the employer has the burden to promote.
What to do then to give this money to the destination for which it was paid, i.e., the training of workers in your company?
Inform the Italian National Social Security (INPS) of the intention to divert 0.30% of the indemnity to an Interprofessional Fund.
The applicable provisions are in Law No. 388 of 2000 for allocating the annual and multi-year state budget (Italian Financial Law 2001).
There are several.
Mainly depending on the working sector.
The list of authorized Interprofessional Funds is continuously modified with new funds entering and others leaving (e.g., Fonditalia, Formazienda, Fondo PMI Confapi, Fondirigenti, Fondoimpresa, etc.).
Subscribing to one of these funds costs nothing!
Choosing the one most consistent with the need to train one’s employees according to the sector is a game-changer.
Asking an employment consultant to enter the selected fund code into the appropriate computer system is the one step you need.
Start the request procedure to the Italian National Social Security Institute to provide for the transfer of 0.30% of the indemnity to the fund.
The amounts to be allocated may seem negligible.
No misconception! The potential advantages are substantial!
Accordingly, they finance company, sectoral, and territorial training plans, which are organized occasionally and can come pricey without the contribution.
You’re almost there with the registration!
Now, you can use the funds set aside in the “training account” and have workers trained and able to work at higher skill levels. Isn’t that wild?
Internal and external training of the workers (through training courses outside the company context) is gotten.
Last but not least.
On top of that, join training courses with non-repayable loans relating to particular investment programs deemed worthy.
By doing so, the payments will amass in the training account over time, and the reserve will not be lost as long as the membership is on.
It has been established that companies that train achieve better results than those that don’t.
And even companies that do not provide training could take advantage.
Just think of the reimbursement of expenses to train personnel to use a new plant or machinery that is invoiced by the supplier of the machinery or plant itself.
In other words, learning how to use the new tool is training. Since these are costly investments, training costs can also amount to several thousand doughs.
“Italynlaw” Law Firm Communications Office issued this Article.
Image 12: “Money coins saved in a glass jar for concept investment mutual funds.”
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