The National Insurance Institute publishes for public comments an agreement for incentive grants in the construction and renovations industry between the Ministry of Labor, the National Insurance Institute and the Ministry of Finance.
Following the "Iron Swords" war and the difficult situation faced by contractors in the construction industry, the Ministry of Labor, the National Insurance Institute and the Ministry of Finance seek to promote an agreement that encourages employment in the field of construction, including in the field of renovations through a grant that can reach up to NIS 14,000 per employee.
According to the agreement:
- An employee who starts working in the construction industry from the start of June until the end of 2024 will be entitled, in addition to a monthly salary, to a grant of NIS 2,000 for each of the first four months of work and a grant of NIS 3000 for the fifth and sixth months.
- For employees to be employed in the field of "wet work", such as working with cement, water, etc. – their grants will be increased by 50%.
It should be noted that the grant is subject to the training undergone by the employee in the relevant field and thus his income does not exceed NIS 25,000 per month.
The agreement as stated is published for public comments until Saturday night (29/6/24), after which it will be discussed by the Labor and Welfare Committee of the Knesset.
To view the agreement click here.