Save Up to 15% a Year from your Salary as a Caregiver: The Benefits of Direct Employment for Caregivers| Money & Investments | iSavta

Save Up to 15% a Year from your Salary as a Caregiver: The Benefits of Direct Employment for Caregivers

Save Up to 15% a Year from your Salary as a Caregiver: The Benefits of Direct Employment for Caregivers

As a caregiver, you essentially become a member of the household and part of the family. We're excited to share a way you can save thousands of shekels without any cost to you, while also helping the families you work for save money.

Switching to cash nursing benefits offers significant advantages for you as a foreign caregiver:

  • Tax Exemption: Typically, when you receive this deposit, you must pay a 15% tax. For example, if you accrue NIS 50,000, you must pay NIS 7,500 in tax. However, if you are employed directly by the family and not by a nursing company, you are exempt from this tax, allowing you to receive the entire amount.

  • Immediate Access to Funds: With direct employment, you receive the deposit immediately upon termination of employment, rather than waiting until the end of your period in Israel, which can be many years later.

The benefits extend to the families employing you as well:

  • Financial Savings: Families save an average of NIS 7,000 per year.
  • Flexibility: They gain greater flexibility when searching for and hiring substitute caregivers during periods like maternity leave.
  • Direct Benefits: The cash nursing benefit is received directly into their bank account, even if there is no caregiver employed during certain periods.
  • Simplified Processes: There is no need to submit monthly calendars.

In conclusion, switching to a cash nursing benefit creates a triple win situation: you save 15% of the deposit and gain immediate access to your funds, and the family saves money while enjoying the flexibility and simplicity of the process.

Please share this post in Hebrew with your employer so they can get more information about direct employment.

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