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Finally, it is important to note that Bonus 14 is an obligation that the employer must fulfill for its employees and is regulated by the Act respecting annual bonuses for employees in the private and public sectors, Order in Council 42-92. If they do not comply, the employee can file a complaint with the Ministry of Labour. Premium 14 is an essential job that every employer must pay their employees every year in July. If you want to know more about bonus 14, go to: t.co/0cLexqMa4f #SomosMintrab #AccionesQueTransforman #PagoBono14 #InspeccionesIGT pic.twitter.com/Nd9E3ugrMc Juan is a person who joined the company Los Patitos, S.A. on August 16, 2017 to calculate the following salaries when calculating bonus 14. This indicates the amount of the corresponding payment for the working days. If the employee has been in the company for more than one year, the same formula indicates that the payment corresponds to the exact amount of the basic salary. At the end of the second period, the IGT shall carry out a further review. If the non-compliance continues, the inspection will be sanctioned on the basis of what is specified in the Labour Code. The fine can range from eight to 18 minimum monthly wages applicable to non-agricultural activities. The period for calculating premium 14 runs from the first of July of the previous year to the thirtieth and June of the current year. The calculation is based on the ordinary salary earned and includes: the basic salary, commissions and bonuses of any kind with the exception of the productivity bonus of Decree 78-89 · If the employee has worked for at least one year, this is taken into account from the basic salary from July of the previous year to June of the current year.

However, many wonder: how is the bonus of 14 calculated? If the duration of the employment relationship is less than one year, the allowance is proportional to the working time worked. However, if there is a variation in each monthly salary – that is, not every month receives the same amount – the payment must be based on the average of the wages or salaries earned by the employee. How is Bonus 14 calculated and when is this bonus awarded to Guatemala? We explain the details. With this information, the formula is that the base salary is multiplied by the days worked, this result is divided by the number of days a year has (365 days). However, if the company is suspended, the bonus will not be paid 100% (from June to July). If this is not the case, an average payment must be made from June until the date on which the suspension was made. Bond 14 in Guatemala must be issued no later than September 15. Many Guatemalans are waiting for Bond 14, whether for leisure expenses, investment plans or debt repayment. If the employee has not yet completed the year of work, the payment of premium 14 is proportional to the months during which he has been in the company. In addition, it was announced that this week, the Bank of Guatemala (Banguat) will continue the injection of about 1,600 million quarters to meet the demand for paper money, for which deliveries began during the long weekend of the June 30 break. The money supply as at May 31 was Q72 billion, which makes it possible to meet the demand for payment of the premium, which covers workers in the public and private sectors.

This can cause confusion for some employees. However, it is easy to determine the amount of premium 14, which corresponds to a person who has not worked for more than a year. Based on the study, Linares said that 61% of workers in the formal sector receive a premium of 14, while in the informal sector, only 7% do. In urban areas, 40% of workers receive it and in rural areas 16%. First of all, you need to take into account the basic salary and the working days worked in the company. Formula for calculating premium 14: Average salary * For working days / 365 Bonus 14 is defined in Decree 42-92 of the Law on Annual Bonuses for Employees in the Public and Private Sectors and must always be paid in the first half of July of each year. The Loan Act 14 was adopted in 1992 and declared a national emergency in a single reading with the positive vote of more than two-thirds of the deputies and entered into force on the same day of its publication in the Official Gazette. Any suspension with or without salary has no effect on the payment of bonus 14 This bonus 14 is an annual bonus that each employer must cancel to his employee and which corresponds to 100% of the normal monthly salary accumulated as long as the employee has worked for a whole year. The employer must complete the calculations and pay before the completion date.

The Department recognizes that due to the current emergency situation, the economic activity of several sectors has been negatively affected and therefore informs, in accordance with the applicable legislation that regulates compliance or documentation mechanisms of obligations related to this service, of the following three guidelines for employers to comply with their obligation: In the case of jobs where the wage is daily and the wage is below the legal minimum, the employer decides whether or not to pay the allowance, he said. (In normal year) Q 3,000.00 * 365 ÷ 365 = Q 3,000.00 (normal year) Average accumulated salary * Working days ÷ 365 = Bonus 14 Bonus 14 in Guatemala is a bonus that employers must pay to their employees during the first 15 days of July. It is paid annually and is regulated by Decree 42-92 of the Congress of the Republic, which establishes the Law on Annual Bonuses for Employees in the Private and Public Sectors. No. This payment is mandatory on the maximum date indicated above. The company noted that in 2021, as a result of the inspections, more than Q36,767,000 was reimbursed to workers because of this performance. In the event that the year ± has not been fulfilled, the benefit is proportional to the working time worked. This payment must also be©made to the employee proportionally upon his liquidation in the period from 1 July to the day of the end of his work.

According to the Ministry of Labour and Social Affairs (Mintrab), every employee is entitled to a bonus of 14 if he or she works continuously for an employer for an ± interrupted year or before the date of payment. In addition, the law provides that for the agricultural worker and those whose contract does not oblige him to work every day, week or month of the year or month±, is entitled to the benefit, it is sufficient that he has worked at least 150 days or work tasks, regardless of the nature or term of the contract. According to ENEI, the informal sector is defined as all employees in categories such as employers, employees and employees of companies with less than six people (not formalized); Self-employed or self-employed (excluding freelancers and©technicians); all unpaid family members and those working in domestic© service. · PAYMENT OF PREMIUM 14 IN CASE OF LACK OF CASH FLOW OF COMPANIES: Companies or employers in the private sector that need financial support to make the agreed payment can contact the financial institutions of the banking system to request loans granted at preferential prices and can be reduced at the Bank of Guatemala for a maximum period of six months.