We tell you everything you need to know about employer contributions and Infonavit voluntary contributions to help you clear up key doubts and thus be able to better control your savings sub-account
In Mexico, there is a law that establishes that employers must contribute an amount equivalent to 5% of their workers’ salary to their Infonavit account. This contribution has the objective of becoming a savings that can later offer them the possibility of applying for a loan to purchase a home. Therefore, if you have a formal job, you will be aware of this situation and you will probably be receiving contributions from your employer.
However, employer contributions are not the only way to grow your savings and improve your credit capacity. An alternative to obtain higher yields in your Infonavit Savings Subaccount, increase your credit capacity and promote a culture of savings, is making extraordinary contributions voluntarily.
Below, we explain the types of contributions that can be made to Infonavit and we resolve the most frequent questions that arise on this topic.
Contributions to Infonavit can be broken down into two types: employer contributions and voluntary contributions.
What are Infonavit employer contributions?
The Infonavit employer contribution is an obligation that must be fulfilled by the head or registered employer. This is done by depositing, through bimonthly contributions, 5% of the daily salary to the Infonavit savings account belonging to the employee. That is, the percentage will be calculated based on the daily salary added to the benefits provided by the company. With these contributions, a total amount will be created that will allow the employee to acquire their own home.
Common contributions should not be deducted from the monthly salary, on the contrary, they are expenses that companies must pay as they are contributions to the workers’ assets.
Benefits of the Infonavit employer contribution
- It guarantees that, as a worker, you can access decent housing.
- You can request a loan from Infonavit to buy a home or remodel it.
- Improve the retirement fund.
What are the voluntary contributions to Infonavit?
Voluntary contributions are those that you make as a worker affiliated with the Mexican Social Security Institute to your Housing Subaccount, with the purpose of increasing the amount that you can access with a mortgage loan when you want to buy a home or accelerate the amortization of the loan.
These types of contributions can be made at any time and do not depend on an estimated minimum payment. However, it is important that the monthly installment of your contribution does not exceed 5% of 25 minimum wages in the current quote.
Remember that the voluntary contributions Infonavit they are complementary to employer contributions and do not replace them. Therefore, they are recorded in the Voluntary Contributions Subaccount.
Benefits of voluntary contributions to Infonavit
- They increase your level of housing credit.
- They generate nominal yield.
- You can get a refund of the accumulated savings and allocate it to your pension.
- You keep your money safe.
- The contributions generated can be deducted from taxes.
It is normal to have doubts in this regard, so below we will resolve the most common questions about Infonavit contributions:
Frequently asked questions about contributions to Infonavit
- How to make voluntary contributions to Infonavit?
- What can I do if my Infonavit voluntary contributions are not reflected?
- How do I know if my employer is making my contributions to Infonavit?
- What happens if the Infonavit employer contributions are not being made?
- What happens to the Infonavit employer contribution when you lose your job?
How to do voluntary contributions to Infonavit?
To successfully carry out your voluntary contributions Infonavit you need to follow these simple steps:
Step 1: Register in My Infonavit Account
Any worker affiliated with Infonavit can make voluntary contributions to their savings account, regardless of whether their employment status is active or inactive. Before making the deposit, the first step is to be registered in the portal My Infonavit Account.
It is important that you have your personal information at hand, such as your Social Security Number (NSS), General Taxpayer Registry (RFC), the CURP, a contact number and your email. If you have not registered and do not know how to do it, we invite you to review our guide on How to create My Infonavit Account step by step.
Step 2: Generate your payment token
Having finished creating your account on the portal, the next step is to select the “My Savings” section, here you will find the option “Extraordinary Contributions”, followed by a menu where you must indicate the amount you plan to contribute, adjusted to your finances. personal.
After completing this action, the payment token will be generated that you will use to make the deposit in one of the approved financial institutions in the teller area, cashier or through mobile applications.
Step 3: Verify that your deposit has been made correctly
Once you have made the corresponding payment, you must verify that there is no error in the deposit. You can check the status from the portal, however, it may take up to 72 hours for the payment to be reflected.
What can I do if my voluntary contributions Infonavit are not reflected?
If the 72-hour waiting time has expired and your deposit is still not reflected in the Infonavit portal, you can call Infonatel at 800 008 3900 to request clarification.
How do I know if my employer is making my contributions to Infonavit?
You can check the record of the contributions made to your Housing Subaccount through the portal of My Infonavit Account or by going to an Infonavit Service Center, located in various parts of the country.
To verify the status of the contributions in the Infonavit portal, you must enter My Infonavit account and select “Movements Summary”, where the details of the employer contributions will be displayed.
What happens if employer contributions to Infonavit are not being made?
In the event that the employer is not resolving the employee’s contributions within a maximum period of 45 days of debit, the employer may obtain a penalty for payments not made. For this reason it is important to keep an eye on the status of your contributions and file the corresponding complaint using Infonatel.
What happens to the Infonavit employer contribution when you lose your job?
By losing your job, the Infonavit employer contributions will also be lost. This represents a problem if you applied for a loan before becoming unemployed, since 5% of the contributions made by your employer must continue to be paid so that the interest on the credit debt is not increased.
If you have noticed some inconsistencies in the payment of contributions to Infonavit, these may be some of the reasons why you are in a clarifying process.
Common errors that generate an explanatory process in my contributions
- You are not affiliated with an Afore
- The SSN is wrong
- You are going through an account separation process
- There are inconsistencies in your record
- There are pending payments in the Afore
You are not affiliated with an Afore
Affiliation to the Afore is a process that you must carry out on your own and provide this information to the institute in charge so that the link can proceed. By not carrying out your registration, Infonavit will detect an inconsistency and the payment of your contributions will go through a clarifying process.
The SSN is wrong
There may be a clarifying process in the individual account or in the housing loan if the payment of employer contributions does not coincide with the NSS of the beneficiary.
To solve this inconvenience, you need to go in person to the IMSS subdelegation that corresponds to you and ask for the NSS certificate.The IMSS will be in charge of providing you with a format for correcting your data, which you must deliver to your Afore. The necessary requirements are:
- Full name of the beneficiary.
- Federal Taxpayer Registry (RFC).
- Proof of address of the borrower.
- Names of the above patterns.
- Name, address and RFC of the current company.
You are going through an account separation process
If you identified that the payment of the contributions to the individual Infonavit accounts is shared with another beneficiary and the account separation process has not concluded, this may be the reason why you are in the clarification process. The status of the contributions will not be regularized until said process has concluded.
Once the process is finished, your Afore will send you a certificate indicating the result.
There are inconsistencies in your record
This case occurs when some of the data of the beneficiary does not match, so they must be corrected via the internet, using official documents such as the birth certificate, some official identification and a document issued by the IMSS indicating the NSS.
There are pending payments in the Afore
To solve this problem, it will be essential to go to the offices of your Afore, where they will be in charge of following up after you request the Claim or Service Folio. Your Afore will notify Infonavit by means of a report and, if favorable, the deposit of the missing amount will be made in the payment of the mortgage loan or in the Housing Subaccount, depending on the case.
Now that you know the basics of how contributions to Infonavit work, you will be able to better manage savings in institutional matters.
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