How bonus 14 is calculated in Guatemala – 2024-06-10 22:55:49

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How bonus 14 is calculated in Guatemala

Bonus 14 is an annual bonus that each employee receives from their employer since 1992.

The fee of bonus 14 was created in order that Guatemalans may pay for his or her half-year trip interval. (Free Press Picture: Erick Ávila)

Throughout the first half of July 2024, in Guatemala, in line with the Annual Bonus Regulation for Personal and Public Sector Staff, each employee should obtain bonus 14 from their employer. It was throughout the federal government of Jorge Serrano Elías (1991 – 1993) that This bonus was instituted following it was authorized by the deputies of the then MAS, DC and UCN benches.

If the employment relationship is with a personal firm, the situation is to be on the payroll. If the place is in a State entity, the bonus will apply if you’re employed underneath any of those strains 011 -permanent-, 022 -contractual- and 031 -days-, as defined by the social communication unit of the Ministry of Labor ( Mintrab).

In keeping with the WORKER GUIDE ready by the portfolio, each employer should pay mentioned full bonus no later than July 15 of every 12 months. The quantity is calculated from July 1 of the earlier 12 months to June 30 of the present 12 months.

This incentive doesn’t embody bonuses for time beyond regulation, nor the motivation stipulated in Decree 31-20021, bonuses, commissions, productiveness bonuses or different kinds of financial benefits obtained by the employee.

The system

For instance, in case your month-to-month wage for non-agricultural financial exercise is Q3,384.59 monthly, the bonus of Q250 will not be included, and you’ve got been a employee for greater than a 12 months, you will need to multiply this quantity by the variety of days -365-, the outcome you’ll divide it once more by what your employer pays you.

However in case you have been working for 150 days, you will need to apply the next system: calendar days labored within the firm or establishment for the bottom wage, the result’s divided by the times of the 12 months -consider when the 12 months is a leap year-.

⚠ What it’s best to find out regarding Bonus 14!

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— MINTRAB (@MINTRABAJOGuate) July 21, 2023