This is how your company can apply for the payroll subsidy of the Formal Employment Support Program (PAEF)

The Ministry of Finance and Public Credit of Colombia reported, this Wednesday, November 11, that starting next week, companies interested in applying to the Formal Employment Support Program (PAEF), will be able to start their process to receive the subsidy corresponding to September, October and November 2020.

The next week of November begins new cycle of applications for the PAEF after having recently approved a series of benefits by the Congress of the Republic with which it is sought grant 50% of a minimum wage for each employed woman, instead of the originally silver 40%.

At the same time, gastronomic, tourism and entertainment sectors will receive a 50% subsidy for each worker employed, due to the fact that they have been one of the worst hit sectors and that have been slow to reactivate their activities.

“The National Government is very committed to subsidizing the payroll of Colombian companies. We are concluding the last operational updates to the PAEF to include the novelties approved by Congress and from the third week of November, employers will be able to present in the same application the request for support to the payroll for those three months and receive the corresponding draft in December “, said the Vice Minister of Finance, Juan Alberto Londoño.

Similarly, the ministry made an invitation to all companies interested in applying to the PAEF to organize all the documents required to access the subsidy.

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In this sense, the Treasury portfolio indicated that during the application period “which will be enabled in the coming days”, organizations may file a form for each of the planned months in which they demonstrate compliance with the requirements of the Program of Support for Formal Employment.

Natural and legal persons, non-profit companies, associated work cooperatives, temporary unions, consortia, and autonomous patrimonies must present the following documents to the financial entity where they have their bank account:

“Form defined by the Special Administrative Unit for Pension Management and Social Protection Parafiscal Contributions (UGPP) and made available to financial entities for the application to the PAEF, completed and signed by the legal representative of the applicant, promoter or liquidator of the company in restructuring or liquidation, or natural person, with the following manifestation under the gravity of oath ”, indicated the ministry in a statement.

Likewise, it must have a certification signed by the legal representative, promoter or liquidator of a company undergoing restructuring or liquidation, the employer and the tax auditor or public accountant in cases in which the applicant is not required to have a reviewer. fiscal, in which it is certified:

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