If you are an employer with salaried employees and you have a decrease in turnover of at least 20% in the period between 1 March 2020 and 31 July 2020, you can apply for NOW compensation.
The NOW scheme also applies to employees directly employed by your company with whom you have a flexible contract agreement. These are, for example, your own employees with a temporary contract or an on-call contract. As a company with a NOW subsidy, you can bridge this period without having to say goodbye to these employees.
To make use of the NOW, a compensation for the costs of wages (at no more than 90% of the wage sum, depending on the drop in revenue) may be requested from the Employee Insurance Agency (Uitvoeringsinstituut Werknemersverzekeringen, hereinafter UWV) for a period of 3 months, provided when the (anticipated) drop in turnover is at least 20% and that no staff will be made redundant during the subsidy period. The compensation may be renewed by another 3 months (in respect of which other conditions may apply).
The compensation is determined in accordance with the drop in turnover:
The UWV will pay an advance of 80% of the compensation. After the 3 months’ period of the wage sum, the actual drop in turnover and final compensation will be determined. On that basis, a correction may be made.
Employers can apply for compensation via this link.
Application for compensation is possible from 6 April, compensation under the NOW may be applied for in respect of any loss of turnover as from 1 March 2020.
The new scheme also applies to the wage costs for temporary employees and payroll workers. That way, businesses are given a chance to bridge these severe circumstances without having to let go of its employees.
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