What is a holiday voucher (chèque vacances)?

The holiday voucher (chèque vacances) is a personalized benefit offered by companies to their employees to help them take time off during paid leave. The scheme is managed by the ANCV, the French National Holiday Voucher Agency.

How does the holiday voucher work?

The holiday voucher is issued by the employee’s company, which hands over these payment vouchers. They can only be used for leisure and holidays. To encourage their use, the employer benefits from social contribution exemptions, while employees gain a supplement to their income.

This benefit is available in two formats:

• The physical holiday voucher, i.e. on paper, in denominations of €10, €20, €25 or €50;
• The digital e-voucher, usable only online, with a value of €60.

The holiday voucher is personal, since it is issued in the employee’s name and handed to them directly. However, its use is not strictly limited to the beneficiary — it also extends to their spouse, partner or civil partnership (PACS) partner, as well as any dependents.

The expiry date of the holiday voucher

The holiday voucher is valid for two years from its issue date, expiring at the end of the year. For example, a holiday voucher given to an employee in 2023 will be valid until 31 December 2025. It can still be exchanged within three months of expiry, which extends its validity by a further two years.

To make the exchange, go to the exchange section of leguide.ancv.com and follow the instructions. This is also where you can report the loss or theft of your holiday vouchers.

Issuance of holiday vouchers by the ANCV

Only the ANCV is authorized to issue holiday vouchers. Companies must therefore order them from the agency, which charges a 1% commission fee on the value of the vouchers.

They can be sent either to the company or directly to the beneficiary’s home address.

How do you use the holiday voucher?

The holiday voucher is valid across France and within the EU (European Union). You can use it with tourism and leisure professionals who accept it. You can recognize them by the “ANCV - chèque vacances” logo displayed at their premises, as well as on all their paper and online communications.

All professionals accepting holiday vouchers are connected to leisure and tourism: hotels, holiday clubs, campsites, restaurants, trains, planes, car rentals, amusement parks, museums, monuments, and more. The ANCV estimates that around 200,000 providers accept this payment method.

On the ANCV website you’ll find Le Guide des vacances, des loisirs et du sport, which offers a multi-criteria search engine to help you plan your holidays and outings. You can, for instance, select establishments with the Tourisme & Handicap label. You’ll also find tourism professionals offering discounts and last-minute promotional deals. The holiday voucher booklet also includes discounts pre-negotiated with tourism brands.

Which companies can offer the holiday voucher?

Any company, regardless of legal status or size, can offer holiday vouchers to its employees, whether they are on fixed-term or permanent contracts. Self-employed workers, as well as managers or directors of companies with fewer than 50 employees, can themselves benefit from holiday vouchers.

Offering the scheme is voluntary and can never be imposed on the company. Likewise, employees are not obliged to accept the offer. Since the holiday voucher is paid partly by the employer and partly by the employee, the employee can choose not to dedicate part of their salary to this expense. Note that the holiday voucher can never be treated as a substitute for a component of pay.

Agreements between employer and employees

Setting up the holiday voucher can result from an industry-wide agreement or an inter-company agreement. It can also stem from a consultation with the CSE (Social and Economic Committee).

If there is no collective agreement on the matter and the company has no union representation, it is up to the company to put forward a proposal to its staff. In that case, the value of the vouchers and the share covered by the employer must meet objective, non-discriminatory criteria — that is, without regard to family situation or income. Furthermore, the employer’s share must be “higher for employees with the lowest pay” (Article L411-10 of the French Tourism Code).

Employer funding of the holiday voucher

To acquire the vouchers, the employer can contribute directly, but can also request a subsidy from the CSE. For some companies with more than 50 employees, the CSE can decide to cover the full amount of the holiday vouchers.

For the vouchers to qualify for the social contribution exemption, certain employer contribution thresholds must be respected:

• For an employee salary below €3,428 according to the monthly social security ceiling, the maximum employer contribution threshold for holiday vouchers is 80% of the voucher value;
• For a salary above €3,428, this threshold drops to 50%.

If the company does not respect these limits, only the portion of the employer contribution exceeding the threshold is subject to social security contributions.

Social security contribution exemptions for the company

Any company offering holiday vouchers to its employees is rewarded with an exemption from social security contributions. However, the CSG (General Social Contribution), the CRDS (Social Debt Repayment Contribution) and the VM (Mobility Payment) contribution are excluded from these exemptions. The VM is a contribution owed by all companies employing more than 10 people. It funds public transport. The employer pays it to the Urssaf, which then redistributes it to local AOTs (Transport Organizing Authorities).

The social contribution exemption is subject to certain conditions.

• For companies with up to 49 employees, the CSE grants no exemption. However, the employer is exempt from social contributions (except CSG, CRDS and VM), up to a limit of €490 per year per beneficiary;
• For companies with 50 or more employees, the CSE can grant a full exemption, while the company’s direct contribution generates no social contribution exemption.

In addition, the company’s contribution is deductible from its taxable profit, up to a limit of €490 per year per beneficiary.

Tax benefits for the employee

The employer’s contribution is not taxable, up to the limit of one gross monthly minimum wage (SMIC) per year.