Salary Configuration
Colombia has two types:
| • | Ordinary Salary - which is as follows: |
12 monthly salaries
1 Premium (in June and December)
1 redundancy payment (consigned for February of the following year)
0.12 redundancy interest (in January)
The employee earns the equivalent to 14.12 salaries per year in total.
| • | Full Salary - |
12 monthly salaries / year:which include premium values, redundancy payment and redundancy interest.
Formula:
Full Salary = full Base Salary * (1 + % FACTOR (specified in the employee's register))
See also
| • | Duration |
| • | Salaries |