The savings account is one of the advantages that an employee can benefit from in a company. This is a kind of commitment by the employer to his employees to allow them to enjoy their days of leave and rest not taken later. To dispose of it, some formalities have to be followed and a request is compulsory. Here then are sample letters for using a time savings account. But first, some notions on this advantage will always be useful.
What is the time savings account?
The time savings account or CET is a device set up by a company for the benefit of its employees in order to allow them to benefit from the accumulation of rights to paid leave. These can then be requested later, either in days or in the form of remuneration that the employee can place in a time savings account.
However, the setting up of a time savings account results from a convention or collective agreement. This agreement will then set the conditions of supply and use of the CET according to thearticle L3151-1 of the Labor Code. The employee can therefore use it to collect his unused leave rights by making a request to his employer.
What are the advantages of the time savings account?
The advantages of the time savings account can be both for the employer and for the employee.
Benefits for the employer
Setting up a time savings account makes it possible to reduce the taxable profits of the company thanks to the contribution of the days transmitted in the CET. The latter also allows the employer to motivate and retain employees by allowing them to benefit from the conditions according to their needs.
The advantages for the employee
The CET generally allows the employee to benefit from a retirement savings scheme with his leave rights. It can also be exempt from capital gains tax, finance a gradual cessation of activity or compensate for leave.
How to set up a time savings account?
The time savings account can be set up on the basis of a company agreement or a convention or by a convention or a branch agreement. Thus, with this agreement or convention, the employer must negotiate the rules governing the time savings account.
Negotiations relate in particular to the account management methods, the account funding conditions and the terms of use of the time savings account.
How to fund and use the time savings account?
The time savings account can be funded either in time or in money. The rights saved can be used at any time. However, the supply of the CET requires a request to the employer provided that the clauses are respected.
In the form of time
The CET can be funded with leave acquired for the fifth week, compensatory rest, overtime or RTT for fixed-price employees. All this in order to anticipate retirement, to finance the days without pay or to gradually move to part-time work.
In the form of money
The employee can effectively benefit from his leave rights in the form of money. Regarding the latter, there is the employer's contribution, salary increases, various allowances, bonuses, savings made within a PEE. On the other hand, annual leave cannot be converted into money.
By choosing this option, the employee can benefit from additional income. He can also transfer his PEE or his PERCO to finance a company savings scheme or a group retirement scheme.
Some models of letters requesting the use of a time savings account
Here are some sample letters to help you make a request for funding from the CET with paid vacation, bonuses or RTTs and a request to use a time savings account.
Funding of a time savings account
Name
Address
ZIP codeCompany… (Company name)
Address
ZIP code(City), on… (Date)
Subject: Funding my time savings account
Mr. Director,
According to the memo that was communicated to us dated [date of memo], you asked all employees to benefit from annual leave by balances before the [deadline to pay leave].
Moreover, because of the departure on leave of some employees and in order to ensure the smooth running of the company, I am therefore unable to take the rest of my paid leave, ie [the number of days off paid remaining] days.
That said, according to article L3151-1 of the Labor Code, it is mentioned that I can benefit from these paid holidays in monetary form. So, I take the liberty of writing to you hereby to ask you for the payment of my balance which corresponds to these holidays into my time savings account.
Pending a favorable response from you, please accept, Sir, the sentiments of my highest consideration.
Signature
Use of rights assigned to a time savings account
Name
Address
ZIP codeCompany… (Company name)
Address
ZIP code(City), on… (Date)
Subject: Use of my time savings account
Sir,
It's been a few years since my time savings account was set up. Thus, I was able to collect [amount of the balance in the CET] euros, which is equivalent to [number of days of leave not taken] days of leave.
Hereby, and in accordance with article L3151-3 of the Labor Code, I would like to inform you of my wish to finance a project within a charitable association from my acquired rights in my time savings account.
Thank you for doing the necessary as soon as possible. However, I am at your disposal for any further information.
Please believe, Mr. Director, my best regards.
Signature
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