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2022 Service premium payment!

The service premium is part of a labor benefit that corresponds to 30 days of salary per year, which is paid in two disbursements; that is, it is delivered in two semi-annual payments in the months of June-December of each year worked. Likewise, this may be paid in whole or in part depending on the time worked in the last 6 months.

It is impotant for you to bear in mind that these payments must be paid in the first fortnight of June or December, otherwise the Ministry of Labor warns that failure to do so could result in a fine of up to 5 current minimum wages.

Therefore, the calculation of the service premium payment must take the amount of the monthly salary and multiply it by the days worked (180 days). Thus, the result must be divided into 360 (days of the year) for the fortnight of work.

Below we share the formula for better understanding:

  • Premium payment: Monthly salary x Time day worked/ 360.

Remember that LARM Colombia will always be willing to address your concerns.

LARM, your home away from home!

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