Branches of Foreign Companies
There are 4 main duties:
Every employer has the obligation to increase the minimum wage and the integral minimum wage. That is, as of January 1, 2023, a minimum salary of COP$1,160,000 must be paid to the employees. For those employees who earn an integral salary, they must be paid, at least, COP$15,080,000.
In addition to the monthly salary, excluding employees who earn an integral salary, employers must pay the fringe benefits established by Law.
- Severance = 1 month of salary per year of services. It must be liquidated every December 31 and transferred to a special fund chosen by the employee before February 15 of the following year.
- Interest over Severance = 12% annual calculated over the value of the severance. It must be paid to the employee during the month of January of each year.
- Legal Bonus = Each semester, 15 days of salary are paid. Payment dates June 30 and December 20.
Benefits in kind:
- Footwear and Clothing: 1 footwear and clothing every four months to employees who earn up to two minimum wages per month. This benefit must be given on April 30, August 30 and December 30. A certain quality or value is not required.
- Legal Transportation allowance: Consists of the monthly payment of a fixed sum to employees who earn up to two minimum wages, which for 2023 is COP$140,606.
Every year the employee has the right to 15 working days of paid leave. It is mandatory that employees enjoy, at least, 6 business days of vacation per year.
After implementing the SG-SST, employers have periodic obligations that they must comply with.
- Health and Safety Committee: The committee must meet on a monthly basis.
- Labor Harassment Prevention Committee: The committee must meet every three months
- Annual risk prevention training program: Staff must be trained annually on the risks to which they may be exposed in their work and ways of controlling said risks.
- Annual work plan: The annual work plan must be adjusted every year in order to update the goals, responsibilities, resources, schedule of activities, among others.
- Periodic medical evaluations: In order to constantly monitor the risk factors that employees face, an annual medical evaluation is suggested.