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The last week of June is undoubtedly the most anticipated week for Columbia workers, as the “premiums” for mid-year services are paid.
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This additional remuneration must be provided by all employers in the country to workers with employment contracts. However, people who directly employ domestic workers also need to pay a “premium”.
When should the premium be paid?
Now, you must remember that the service fee is equivalent to 30 days’ salary per year, paid in two installments: half on June 30 and the other half no later than December 20. It should be noted that this benefit will be paid for the hours worked throughout the semester or in proportion to the hours worked.
How is this payment calculated?
To calculate the service fee, the following steps must be followed:
1. Determine your base salary.
2. Multiply your base salary by 180 days, or by the number of days worked if less.
3. Then, divide that number by 360, which equals one year.
That is, if a worker’s minimum wage is equivalent to $1,300,000, it must be multiplied by 180 and then divided by 360. The total is $650,000, which is equivalent to the mid-year bonus.
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