Termination Codes for the Additional Employment Incentive
Social Security Institution has published a General Letter to explain the details regarding the termination codes, which causes a refund of the additional employment incentives (with No. 7256) to the Social Security Institution from the employers with interest.
Per that General Letter, the incentive amounts with regards to Law No. 7256 would need to be refunded back to the Social Security Institution along with interest if the termination takes place with the below termination codes:
1- End of the employment contract during probation period by the employer
4- End of the indefinite employment contract by the employer
5- End of the definite term employment contract
15- Collective dismissal of employees
17- Closing of the workplace
19- End of season
20- End of campaign
22- Other reasons
25- Termination of the employment contract due to immoral, dishonorable, or malicious conduct or other similar behaviors of the employer by the employee
34- Termination because of transferring of the workplace, changing of the work or the workplace qualification
The employers would need to employ the new hires who are employed under incentive No. 7256 with a duration that is equal to the period of time that the employer benefits from that incentive.
You can reach the related SSI General Letter via the link.
Should you have any queries or need further details, please contact your customer representative.