The deposit\u2019s amount varies among the different employment sectors. In the nursing industry, the deposit is defined as the larger of the following two: (1) the severance pay that the nursing company is required to pay for foreign workers (amounting to 6% of their salary) and an additional 6.5% from the worker\u2019s salary, which constitutes the employer\u2019s benefits component; or (2) the severance pay and benefits component agreed upon between the nursing company and the entity ordering the nursing services (usually, the National Insurance Institute). In the second case, the severance pay component will usually amount to 8.33% of a nursing worker\u2019s monthly salary.<\/p>\n

In the construction and specialized technology sectors, the deposit consists of the severance and benefits component that employers are obligated to allocate for employees, according to the expansion order or the collective agreements that apply to the workers\u2019 employment in each specific case. In the construction industry specifically, this is, at the time of writing, 7.1% towards foreign workers\u2019 benefits, in addition to 6% for severance pay. That is, in total, employers are required to deposit 13.1% of the foreign workers’ monthly salary into their cumulative deposit.<\/p>\n