YEAR END BONUS INCREASE IN PRIVATE SECTOR

dolares-dinero-aguinaldoWith the consensus of the various political parties in the meeting held on Thursday, June 13,  the Legislative Assembly approved with 72 votes the increase to the year end bonus for the private sector, reforming Article 198 of the Labor Code. This increase will be effective for year 2014, according to decree No. 399 of the of the Labor and Social Welfare Commission.

The decree excludes the entire public sector and will only benefit the employees of the private sector.

The new bonus for 2014 will be as follows:

1-3 years:           15  salary days.

3-10 years:         19 salary days.

Over 10 years: 21 salary days.

For further information please contact:

Francisco Martínez
Labor Law Unit Head
Corporate and International Division
fmartinez@romeropineda.com

 

 

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