Article L3151-1 of the French Labour Code
November 7, 2023
The time savings account may be set up by a company or establishment agreement or, failing that, by a branch agreement.
The time savings account may be set up by a company or establishment agreement or, failing that, by a branch agreement.
The time savings account enables employees to accumulate paid leave entitlements or to receive immediate or deferred remuneration in return for periods of leave or rest not taken or sums allocated to them. Annual leave may only be allocated to the time savings account for periods exceeding twenty-four working days.
Any employee may, at his or her request and in agreement with his or her employer, use the rights allocated to the time savings account to supplement his or her remuneration or to gradually stop working. The use in the form of additional remuneration of rights paid into the time savings account in respect of annual leave is only authorised for those of these rights corresponding to days exceeding the…
The rights acquired under the time savings account are guaranteed under the conditions set out in Article L. 3253-8.
The collective agreement determines the conditions and limits under which the time savings account may be credited with time or money at the initiative of the employee or, for hours worked in excess of the collective time limit, at the initiative of the employer.
The collective agreement defines the terms and conditions for managing the time savings account and sets out the conditions for using, liquidating and transferring rights from one employer to another.
For acquired rights, converted into monetary units, which exceed the highest of the amounts set by decree in application of article L. 3253-17, the collective agreement establishes an insurance or guarantee scheme.
The collective agreement provides that the rights allocated to the time savings account are used, in whole or in part: 1° To contribute to the financing of retirement benefits which are of a collective and compulsory nature determined within the framework of one of the procedures mentioned inarticle L. 911-1 of the Social Security Code. In this case, the rights corresponding to an employer’s contribution in time or money benefit…
In the absence of a collective agreement as referred to in Article L. 3152-3, a guarantee system is set up by decree. Pending the implementation of a guarantee scheme, when the acquired rights, converted into monetary units, exceed the ceiling mentioned in article L. 3152-3, an indemnity corresponding to the monetary conversion of all the rights is paid to the employee.
In the absence of an agreement stipulating the conditions for the transfer of rights from one employer to another, the employee may : 1° In the event of termination of the employment contract, receive compensation corresponding to the monetary conversion of all the rights he has acquired; 2° Request, in agreement with the employer, that all the rights he has acquired, converted into monetary units, be deposited with a third…
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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