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Foreign travel advice Romania
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Foreign travel advice The Gambia
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Foreign travel advice China
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Guidance Living in South Korea
Information for British citizens moving to or living in South Korea, including guidance on residency, healthcare, driving and more.
12 Mandated Federal Benefits in Mexico
Franklin and Marisol discuss the mandated benefits; provide a brief explanation of each benefit, and who they apply to.
1) Christmas Bonus / Aguinaldo: equivalent to a minimum of 15 days, must be paid before December 20 of each year. Article 87 LFT.
2) Vacation and vacation bonus: employees who complete 1 year of services will enjoy an annual period of paid holidays, 6 working days for the first year, increase in two working days, to reach twelve for each subsequent year of services. The vacation bonus is 25% of the corresponding salary during your vacation period, there is a whole chapter in the Law that regulates this right, Chapter Four LFT, of Articles 76 to 81.
3) Weekly rest day: for every six days of work the employee will enjoy 1 day of rest at least with full salary. Chapter III LFT Art. 69 to 75.
4) Sunday bonus: If the employee works their seventh day of rest, they are entitled to a Sunday bonus of 25% on the salary of the days ordinary work. Art. 71 LFT.
5) Maternity leave: pregnant working women will enjoy a break of 84 days of rest. IMSS Art. 170 LFT fraction II.
6) Adoption leave: Working women will have a 6 week rest leave in case of adoption of an infant, counted from the day they receive it. Art 170 II Bis LFT
7) Breastfeeding period: up to the maximum term of 6 months, two extraordinary rest per day of half an hour each to feed her child, in a suitable and hygienic place or the employee can agree with the employer to reduce in one hour of the employee’s working day during the indicated period Art. 170 fraction IV LFT
8) Paternity leave: An employee who is a father can rest 5 days when the child is born. Reform of the LFT in 2012.
9) Premium of seniority: Corresponds when a work relationship is terminated or voluntary resignation, as long as the worker has worked 15 years or more at the time of resignation, also applies if the employee is unjustifiably dismissed Art. 162 LFT
10) Benefits for voluntary resignation / Finiquito: Consists of the payment of the Christmas bonus, vacation bonus and accrued vacation days and the seniority bonus if you worked more than 15 years.
11) Severance Pay: Compensation of 3 months of salary plus the prorated mandated federal benefits. Art. 48 and 50 LFT
12) Profit Sharing / PTU: 10% distribution of declared profits to be paid within 60 days after the federal tax filing deadline (May 30). Chapter VIII Federal Labor Law of Article 117 to 121. Presented by Franklin D Frith II - General Manager / Principal and Marisol Perez - HR / Payroll Manager for Human Resources Mexico S de RL