Liquidation involves payment of outstanding or incomplete social benefits. Photo: By Fabrizio Oviedo/LR/Andina
Regularly employed people are exposed to various changes in their workplaces, whether it is through layoffs by their employers or voluntary resignations. In this situation, one of the main doubts that workers usually have is about the settlement of social benefits applicable to them by law.
To clear this uncertainty about payment, we tell you how to calculate the severance pay in situations like resignation or voluntary termination. Also, we tell you what is the maximum period of time that the company you worked for will pay. Take note!
When is the settlement paid?
According to the Ministry of Labor and Employment Development (MTPE), the settlement amount must be paid within 48 hours of the worker being terminated. Otherwise, bank supervision, insurance and labor benefits set up by AFP (SBS) will be calculated.
Supreme Decree 001-97-TR related to the single decree text of the Law on Compensation for Service Time, “Compensation for termination of employment for a period of less than one semester shall be paid directly by the employer within 48 hours of termination and with the effect of cancellation. Computable wages shall be in effect during the period of termination. End date”. Article 3 of
Settlement Payment: How is the amount calculated?
Concepts of creating settlements vary according to the legal benefits offered by companies and the regime in which the worker works. These are made up of three components: Compensation for Time of Service (CTS), Holidays and Severance Bonus.
In cases of involuntary dismissal, the concept of compensation is added, and it applies to every worker who works at least 4 hours a day and passes a probationary period (3 months), in positions of trust (6 months) or in managerial roles (3 months). 12 months).
To calculate the compensation, the salary received on the date of dismissal is taken as the basis, plus 1/6 of the bonus for the last 6 months. In respect of missed bonus, the last salary is also used and is equal to one-sixth of that salary for each full month worked during the semester from January to June or July to December.
Also, another important aspect is holiday pay. If the person does not enjoy this right, he will get holiday compensation equal to the monthly wages.
What can I do if they don't give me a settlement?
If the settlement is not paid within 48 hours of the termination of the employment relationship, an inspection process can be filed with the National Superintendent of Labor Supervision (Sunafil)
Likewise, the Ministry of Labor specifies that workers have four years to claim social benefits and accrued wages calculated from the end of the employment relationship.