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Vacation pay


ibarra
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  • 4 months later...

Thanks again to Rolly Brook, may he rest in peace.

You pay the Aguinaldo by Dec. 20th.  Vacation Pay is due by End Of Year if you have not paid earlier.  

Aguinaldo (Christmas Bonus)

The aguinaldo must be paid on or before the 20th of December.   The aguinaldo must be paid in cash; gifts, Christmas baskets, and other presents do not fulfill the requirement.

The aguinaldo must equal 15 days of salary.   To calculate the amount for a part-time employee, divide the number of days worked during the year past by 365. Multiply that figure by 15 x the daily salary to determine the amount of the aguinaldo.

Examples:

If you have an employee who works one day a week for $50 pesos:
52/365 x 15 x 50 = $106.85 pesos

If the worker is paid by the week and has worked a full year, use a multiplier of 2.14 to make the math easier.  If the worker is paid $500 pesos per week, then it is $500 x 2 .14 = $1070 pesos

If the weekly worker has not worked a full year, divide the number of weeks worked by 52.14 x 15 x the daily salary (weekly salary divided by 7) to determine the amount of the aguinaldo.

Vacación (Vacation)

The vacación must be paid in cash, either before the vacation or before the end of the year if no vacation has been taken.

The vacación pay must equal required number of vacation days of salary plus and additional 25% of the amount. To calculate the amount, divide the number of days worked during the year past by 365.  Multiply that figure by number of vacation days times 1.25 to determine the amount of the vacación pay due. 

Examples:

If you have an employee for one year who works one day a week for $50 pesos:
52/365 x 6 x 1.25 x 50 = $53.42 pesos = 
vacación

If the worker is paid $500 pesos per week, convert the weekly rate to a daily rate by dividing by 7.

500/7 x 6 x 1.25  = $535 pesos = vacación

Note:  The 6-day minimum vacation is only for the first year worked.  The basis increases by 2 days each year through the 4th year.  The 5th year it increases 2 days to 14 days.  Thereafter, the time increases by 2 days each 5th year.

For example:  A maid has worked for 5 years, so she is due 14 days vacation.  She works 3 days per week for $760 per week. which is $253.33 per day.  3 x 52 = 156 days worked per year.

156/365 x 14 x 1.25 x 253.33 = $2642.71

If we ignore that she works only 3 days and consider her a weekly employee, then

760/7 x 14 x 1.25 = $1900

Year 1 -- 6 days
Year 2 -- 6 + 2 = 8 days
Year 3 -- 8 + 2 = 10 days
Year 4 -- 10 + 2 = 12 days
Year 5 -- 12 + 2 = 14 days
Year 10 -- 14 + 2 = 16 days
Year 15 -- 16 + 2 = 18 days
etc

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