Save Up to 15% a Year from your Salary: The Benefits of Direct Employment for Caregivers
Read More...
9 Things You Should Know About Foreign Worker Deposit Money
iSavta | 23.06.2022
Do you want to know more about your Foreign Worker Deposit Money? Read the article below from The Commissioner for Foreign Workers' Labor Rights
----------------------------------
Many workers ask us how they can receive their Foreign Worker Deposit money when they leave Israel permanently. We are here to explain!
Here are 9 things you should know about the Foreign Worker's Deposit:
1. Employers of foreign workers in different sectors (construction, hotels, caregiving by companies, and unique technology) are required to deposit a monthly sum for each foreign worker in a bank account supervised by the Population and Immigration Authority (PIBA).
2. When a foreign worker leaves Israel permanently by the time specified in his work visa, he is entitled to receive the money which was deposited for him in his Foreign Worker Deposit account, including any interest accrued, after deductions for account management expenses (80 NIS) and a 15% income tax deduction.
3. A foreign worker who leaves Israel permanently after the end of the time specified in his work visa is entitled to receive the money which was deposited for him in his Foreign Worker Deposit account, including any interest accrued, after deductions for account management expenses (80 NIS) and a 15% income tax deduction. However, an additional fine will be deducted from the deposit. The fine is determined by the amount of time the worker remained in Israel without a work visa. for more details on this topic, please see the image attached to this post.
4. Who can apply for the release of the deposit to the worker? The foreign worker himself, the worker's employer including a manpower company employer, or another person who has been granted power of attorney by either of those parties.
5. What do you need in order to apply for the release of the deposit? A copy of the worker's airline ticket for leaving Israel, as well as a copy of the worker's passport or visa. If you are applying on behalf of the worker or on behalf of the employer/manpower company, you must submit an official power-of-attorney document.
6. How to apply? Fill in and submit the Online Application to Withdraw Foreign Workers Deposit form at the following link: https://forms.gov.il/globaldata/getsequence/getHtmlForm.aspx?formType=DepositRelease@piba.gov.il
7. At the following link the worker can view his personal area at any given moment with up-to-date information on his deposit account:
Follow this link for more information: https://www.gov.il/en/service/request_for_deposit_withdrawal
8. Please contact the Deposits Unit at the Immigration Authority if you have any questions regarding the deposit. Deposits are handled by the Deposits Unit for foreign workers in the following sectors: construction, unique technology, nursing, seasonal agriculture, hotels, industry, and nursing institutions, as well as deposits for infiltrating workers and withdrawals. For more information, send an email to Pikdonot@sa.piba.gov.il
9. Please note - changing between corporations does not affect the money deposited in the Foreign Worker Deposit account.
Share
Read more about News and Announcements
News and Announcements
