Find out more about PIS/Pasep 2022
What is PIS/Pasep?
The PIS/Pasep Fund aims to raise resources, thus contributing to the well-being of salaried workers in the public or private sector.
PIS/Pasep were previously two separate funds that were unified in 1975 by decree of law, which came into force in 1976.
Although the PIS/Pasep name remained the same, the amount collected is now stored in the FAT (Worker Support Fund), the body responsible for managing social benefits relating to Unemployment Insurance and Salary Allowance.
Summary:
PIS
By Complementary Law No. 7/1970, the PIS (Social Integration Program) was created. The program, at the time of its creation, integrated private sector employees with company development. Payment of PIS is still the responsibility of the Caixa Econômica Federal.
Through the PIS benefit, employees of private sector companies have access to certain benefits and contribute to the development of these companies.
PASEP
Along with the creation of PIS, Complementary Law No. 8/1970 was instituted for the creation of Pasep (Public Servant Assets Formation Program).
The Union, States, Municipalities, Federal District and territories, when it was created, contributed to the fund destined for public sector employees (public servants). PASEP payment is made by the Bank of Brazil?
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Who is entitled to receive PIS/Pasep 2022?
Brazilian citizens who are salaried, being part of the public or private sector, are entitled to receive the PIS/Pasep benefit in 2022.
The requirements are:
- Be registered for at least 5 years;
- Have a work contract for at least 30 days in the base year (for 2022 the base year is 2020);
- Have received an average of up to 2 minimum wages during this period.
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