Statement No 20 – September 2024
Do you already have your registration with the National Workers’ Consumption Fund Institute (FONACOT)?
Remember that it is mandatory for employers to register with FONACOT so that employees can be eligible for the credit provided by the Institute. The registration is free and does not make the employer a co-debtor for the credit granted to the employee.
Furthermore, this registration is necessary for the process of enrolling and/or renewing service or specialized work providers on the REPSE platform.
At FRALLA, we have a specialized team that can assist you with the registration process with FONACOT, ensuring you meet your employer obligations and avoid fines that can reach up to $162,855 for not having the registration.
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