Next June 30 is the deadline for companies in the country to pay their employees the first of the two service premiums for the year, also known as the mid-year premium. It is a cash recognition, which is paid directly to the worker, for completing a semester and a year of work in a public or private entity.
(How to calculate how much you should receive in your mid-year premium).
Although the premium is an obligation that companies have, as established by the Substantive Labor Code, this benefit does not apply to all employees in the country.
This premium will be paid to workers of companies with permanent, permanent contracts and, in general, those who meet the conditions of dependent employee. Among the beneficiaries are the following:
– Domestic service workers.
– Family service drivers.
– Day workers or farm workers.
Who does not receive the premium?
Keep in mind that the payment is not contemplated for Colombians who have other forms of connection with the company, such as:
– Independent workers.
– Workers under contract to provide services.
– Temporary workers.
– Workers who receive a full salary.
– Casual or temporary workers.
– Apprentices or people with an apprenticeship contract.
How much do they pay in the mid-year premium?
The premium is the payment of one salary per year, which is made in two transfers. In other words, if you earn $1,500,000 monthly, you will receive that amount in two payments: $750,000 in the middle of the year (June) and the other $750,000 at the end of the year (December).
(When does the mid-year premium arrive?).
«Your recognition will be made for the entire semester worked or proportionally to the time worked», precisely article 306 of the Substantive Labor Code.
In the previous case, for those who have not completed the time of the year or semester in the company, the premium is calculated with this formula: salary x time worked in days / 360.
For example, if you earn $1,200,000 and have worked 110 days, the premium calculation is as follows: 1,200,000 x 110 / 360 = $366,666.