What are working days?
It may seem strange, but in addition to the period from Monday to Friday, Saturday is also considered a working day, especially when it comes to salary payments, as there are legal obligations on the part of the employer that the payment of various professional categories be made until the 5th Business Day of the Month.
In short: A working day is any day that does not fall on a Sunday or public holiday.
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Banking Business Day:
As we know, banks work from Monday to Friday, so in practice, regardless of whether Saturday is legally a business day or not, there is no possibility of paying bills due on which the day of the month falls on a Saturday, so charges with maturity on Saturdays, Sundays or holidays, can be paid without any interest, fine or addition on the first subsequent business day, and there is even specific legislation with this determination.
Of course, if there is a person’s real interest in paying any type of charge that is due on Saturday, it is possible, as many banking correspondents also open on Saturdays, such as lottery and post office agencies, but due to the current legislation that prohibits the collection of fines with maturities whose day of the month is a Saturday, fines cannot be charged.
Business Day for INSS:
For the INSS, which makes monthly payments to millions of retirees, pensioners and other types of beneficiaries, the logic in relation to working days is a little different, as payment is not always made on the 5th Business Day of the Month.
The INSS payment calendar is generally published at the end of each year, informing all payment dates for the following year, month by month.
Depending on the final number of the benefit, the payment made by the INSS can occur in the first days of the month or be made a little later.
If the payment of all retirees were made on the 5th day of the month, there would certainly be a very large agglomeration of people on the same date in the banks, causing inconvenience to the financial institution and also to the insured, so there is a staggering of payments to try to minimize any inconvenience.