Professional Services Solidarity Fund
- June 14, 2021
- Reading time: 4 min
The Ministry of Labor and Social Policies issued a decree on May 20 appointing the administrative committee of the “Confprofessioni” Solidarity Fund, and a recent INPS circular sets out the instructions for ensuring its operational readiness.
Please note that this Fund, established by Interministerial Decree No. 104125 of December 27, 2019, guarantees the standard wage supplementation allowance in cases of reduced or suspended work, and is therefore intended to provide employees of employers in the professional services sector with more than three employees (including apprentices under a vocational apprenticeship contract and excluding executives) protection during the employment relationship to support their income in cases of reduced or suspended work.
Employers in the professional services sector who, on average, employ more than three employees—as identified based on the ATECO codes defined in INPS Circular 77/2021, which we have attached hereto—are required to enroll in the Fund. All professional activities falling under the aforementioned ATECO codes must be identified by the authorization code “0S,” which, starting with the March 2020 pay period, stands for “Bilateral Solidarity Fund for Professional Activities.”
The assignment of the authorization code “0S” to the INPS identification numbers identified in this manner will be carried out automatically by the Institute and will replace the code “0J” used to identify FIS members.
The benefits provided by the Confprofessioni Fund are funded by:
A standard contribution calculated based on the number of employees;
Any additional contribution
Funding for the Fund through the Regular Contribution – What It Is and How Any Outstanding Payments Will Be Handled
For employers with an average of more than three employees and up to fifteen employees, the contribution is 0.45% (two-thirds of which is paid by the employer and one-third by the employees); for employers with an average of more than fifteen employees, the standard contribution is 0.65% (two-thirds paid by the employer and one-third by the employees) of the taxable income for social security purposes.
For the purposes of calculating the average number of employees, reference is made to INPS Circular No. 176 of September 9, 2016, taking into account the average for the six-month period preceding the reference month.
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