LG is the employees’ guarantee fund. LG ensures that your employees are paid their respective salary, holiday allowances, and other things if your company is bankrupt or is closed down in a similar manner.
If your company has legally requested a suspension of payments order from a court of law, LG can also assist you with the payment of the net payroll costs to your employees during such a suspension.
If you are declared bankrupt or go into liquidation, your employees can claim any money you owe them from LG.
Contributions to LG
Contributions to LG are paid together with a number of other ATP contributions that private companies have to pay for:
- maternity/paternity leave.
Combined this is called Finansieringsbidrag (financing contribution).