“DEP withdrawal code 01” in the FGTS: What does it mean and what to do?

If you're checking your FGTS balance and see the code "Saque DEP COD 01 FGTS," don't worry. This code is merely an internal reference for Caixa Econômica Federal. However, it's important to understand the purpose of this type of withdrawal.

Therefore, in this article, we'll show you what you need to know about this code and what it actually means on your FGTS statement. Read the article to the end to learn more about the DEP code 01 withdrawal.

What does Withdrawal DEP COD 01 mean?

The code "Saque DEP COD 01 FGTS" is simply a designation used by Caixa Econômica Federal. Therefore, there's no need to worry about this particular message, although it usually appears in red on your account statement.

However, to fully understand its meaning, let's analyze each part of the term. See the explanation below, according to CAIXA:

• COD 01: Code 01, or COD 01, indicates that you were dismissed without just cause.
• DEP Withdrawal: The term “DEP Withdrawal” indicates that your FGTS has not yet been withdrawn, but is available for withdrawal.

So, in short, this code means you're a former employee of a specific company who was unfairly dismissed. As a result, you're entitled to receive the accumulated FGTS (Unemployment Severance Fund) funds.

Therefore, DEP withdrawal code 01 means that you have an amount available to receive from the termination withdrawal and that it will be released into your account.

What should I do if I received the DEP COD 01 withdrawal?

If you believe you are entitled to the FGTS DEP COD 01 withdrawal, it is important to know how to check the availability of this benefit.

To do this, you can use Caixa Econômica Federal's FGTS app, which is a convenient way to access FGTS-related information. Simply log in to the app using your CPF and password. If you're not already registered, follow the instructions to register.

In addition to the app, you can also check the benefit's availability through Caixa's website. As with the app, you'll need your CPF and PIS numbers to access the necessary information.

Both the app and the website will provide updated information on the availability of the FGTS DEP COD 01 withdrawal, allowing you to check if you are eligible to make the withdrawal.

Where does the DEP withdrawal code 01 go?

When you see the message "withdrawal dep code 01" on your Guarantee Fund statement, it indicates that the corresponding amount is now available for withdrawal. Fortunately, you can withdraw funds directly through the FGTS app.

To begin the process, simply access the app and log in to your account. Then, click on "My withdrawals" and look for the option related to withdrawal due to termination. Once found, select it.

In the next step, you'll need to specify an account to receive the withdrawal funds. Select the desired account and confirm the transaction. Now, just wait! The money will be deposited into the specified account within 5 business days.

This convenience provided by the FGTS app makes the process of withdrawing funds available through "withdrawal dep code 01" simple and convenient. Remember to always check the updated information and follow the instructions provided by the app to ensure everything is done correctly.

This way, you can quickly and conveniently access the money in your Guarantee Fund, meeting your financial needs.

If you have already indicated the account to receive your FGTS amount, by following this process, you can check which account your money was or will be sent to and, thus, be able to enjoy your FGTS.

What is the FGTS termination withdrawal?

DEP withdrawal code 01 is related to the FGTS termination withdrawal. Are you familiar with this withdrawal method?

The FGTS severance payment refers to one of the withdrawal options available to workers when their employment contract is terminated without just cause. When a worker is dismissed without just cause, they have the right to withdraw the amount accumulated in their FGTS account.

The FGTS (Guarantee Fund for Length of Service) is a mandatory employment benefit in Brazil, in which employers deposit a percentage of each employee's salary into a monthly account linked to the employee. This fund is used to ensure the employee's financial security in situations such as unfair dismissal, retirement, home ownership, and other specific circumstances.

In the case of a severance payment, the employee has the right to withdraw the entire amount accumulated in their FGTS account, including deposits made by the employer and income generated during the employee's employment. This withdrawal is made when the employment contract is terminated without just cause, that is, when the employer decides to dismiss the employee without a specific reason provided by law.

To withdraw your FGTS severance pay, you must follow the procedures established by Caixa Econômica Federal, which is responsible for administering the FGTS. Workers should visit a Caixa branch or use the institution's digital channels, such as the FGTS app, to request the withdrawal and receive the amount due.

Does DEP withdrawal code 01 relate to termination withdrawal? What's the connection?

Yes. You will only receive the DEP withdrawal code 01 on your FGTS statement if you were unfairly dismissed from a company. In other words, in this case, the code is provided to indicate that you are entitled to the withdrawal.

Therefore, if you are fired from a company without just cause, wait until the DEP Withdrawal code 01 appears on your statement and you can withdraw your FGTS.

I signed up for the anniversary withdrawal, am I entitled to the DEP withdrawal code 01?

If you signed up for the anniversary withdrawal, you may still receive the DEP withdrawal code 01 message in red in your FGTS account.

However, if you opted for the FGTS anniversary withdrawal, you won't be able to withdraw it upon termination. These two options are incompatible, meaning that those who opted for the anniversary withdrawal are not entitled to withdraw the full balance of their FGTS account upon termination of their employment contract.

However, even if you opt for the anniversary withdrawal, you can still withdraw the 40% severance pay penalty on deposits made by the employer in the employment contract. This penalty is paid by the employer in the event of unfair dismissal and remains available for withdrawal by the employee.

Therefore, for those who signed up for the anniversary withdrawal, the message “withdrawal dep cod 01” only indicates the right to withdraw the termination fine, not including the total balance of the FGTS account.

Frequently asked questions

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