Have you ever heard of currency bankruptcy? Do you know what it is? This concept is related to money and is focused on self-employed workers.
But What is currency bankruptcy? How does it work? Who receives it? All of that is what we want to talk to you about below. Shall we start?
What is currency bankruptcy?
The first thing you need to know is the concept of this word. It refers to an extra bonus that they give you beyond your salary. In other words, it is an amount of extra-salary money that some workers receive for certain conditions.
Now, this would be the most used definition in Spain. But the truth is that There is another totally different definition of this concept. In other countries, currency failure refers to a deterioration or loss of cash. That is, both coins and bills can be damaged due to use. And that situation is what is called by this concept.
That said, you should know that in this article we are going to focus on the definition of the extra-salary bonus.
What is currency loss for?
Taking into account the concept, the main function of currency bankruptcy is granting a series of workers extra money for meeting a series of conditions. Now, you must keep in mind that this concept is not regulated by the Workers' Statute (hence it is not something that applies to all employees).
In reality, it is only applied in some collective agreements as well as in some contracts, as long as it has been something that has been agreed between the worker and the employer or company.
Which workers have the right
Do you want to know if as a worker you have the right to currency loss? There are several requirements that must be met to qualify for this. Among them are:
- That it is reflected in the collective agreement. Or, failing that, in the worker's own contract. This means that, if there is no reference to this concept in the collective agreement, and nothing is said in the contracts, the worker would not have the right to receive this bonus.
- That workers carry out operations with cash. That is, they charge customers, or on the contrary, they receive money and put it in the box. This is, mainly, the reason for the existence of this loss, since it must be seen as a possible compensation to the employee for the risks and damages to which he is subjected for carrying out those payments or those monetary operations. What exactly are we referring to? For example, there may be errors in collection or payment, money may be lost (involuntarily, of course), etc. With this you can already get an idea of ​​who are the people who receive it: bank tellers, supermarket tellers, people who work in casinos or gambling halls, bus drivers, people who work in companies related to the accounting, collection, custody of funds…
What you should keep in mind is that, If the loss corresponds to you, this does not mean that you will always collect it. We explain: as a worker you have the right to your vacations. And during that month of vacation that you have, although you will receive your salary, the same will not happen with the loss. The reason is simple: since you have not been making money movements, you have not been able to face situations that cause harm due to those movements.
The same thing happens if you are fired. In severance pay, this concept is not taken into account, like other extra-salary supplements.
The reason for currency failure
If you have read everything above correctly, you surely have certain doubts regarding this breakdown. And is not for less.
The main function of this term is compensation to the worker for those movements that make money. But in reality, it is a kind of cushion that the workers have towards the employer.
We give you an example. Imagine a person who works at a supermarket checkout. When the end of the month comes and they count his daily cash, he discovers that there is an imbalance. In this case, money is missing.
Instead of the worker having to put the missing money out of his pocket (or in this case, from his payroll), the businessman or company uses the money from that extra currency loss to deduct what is missing to balance the cash. . Whatever remains after doing the math is what that worker receives.
What you should know is that The businessman cannot deduct more money than the loss represents. For example, imagine that you are charged 100 euros in currency losses. One month it turns out that the imbalance is 150. The employer can only take away the loss you have of 100 euros, but he cannot touch your salary to add the remaining 50 euros that were left. Likewise, we have no references that he may continue removing in the following months.
Of course, you should know that there is a case in which the entire amount could be removed: when it is suspected that there is demonstrable pain. That is to say, there is evidence that money is stolen from the cash register or this mismatch occurs continuously.
Now you may be thinking about the opposite assumption, that instead of missing money, there is more. In this case, we have not found any reference that makes us think that the employer is going to give you more extra that month. In fact, as stipulated in the agreement or contract, unless something is said here, the positive imbalance amounts will be benefits for the company, but not for you.
Currency bankruptcy, does it quote? Tax?
One of the questions you can ask yourself when receiving that money is what relationship it has with the Treasury or Social Security. Well, you should know that it contributes and pays taxes.
That implies that, For Social Security it is taken into account (because it contributes), and for personal income tax, too (because it pays taxes).
Has it become clear to you what currency bankruptcy is?