According to the new finance law entered into force on August 19th, 2022, employees may renounce all or part of their RTT days accrued from January 1st, 2022, to December 31st, 2025, with the agreement of the employer.
Employees whose working time is counted in hours are eligible to such mechanism.
It is not applicable to employees who benefit from a global working time arrangement in days. However, these employees already have the possibility to monetize their rest days, in application of a similar but permanent mechanism provided for under article L.3121-59 of the French labor code.
The RTT days that can be monetized are the ones resulting from:
- A rest days system implemented under a collective agreement in accordance with Articles L 3121-41 to L 3121-47 of the French Labor Code regarding the organization of working time over a period longer than a week.
- A company-wide agreement or a collective bargaining agreement having provided for a system for reducing working hours (for example when France moved to a 35 hour week).
To benefit from this mechanism, the employee must request the agreement of his/her employer. It is recommended to sign an amendment to determine the terms and conditions of this “buy-back” scheme.
The days or half-days worked under this “buy-back” scheme give rise to an increase in salary, at least equal to the rate applicable to the first hour of overtime in the company, i.e. at least 10% if a collective agreement so provides or 25% in the absence of such an agreement, and benefit from the social and fiscal regime applicable to overtime. The hours corresponding to the monetization of RTT days are not take in into consideration in the annual quota of overtime hours.
Should you have any questions, or should you need assistance in this matter, please do not hesitate to contact us.