Profit sharing 2023: When are they paid and how are the amounts determined?
The profit sharing It is one of the forms of workers’ compensation, along with the Christmas bonus.
According to Federal Labor Law (LFT)must be delivered between the months of May and June.
When is the 2023 profit sharing?
According to the Federal Labor Law, The payment of profit sharing It must be carried out between April 1 and May 30 for companies, and from May 1 to June 29 for individuals.
How much profit sharing do I get in 2023?
The law requires companies to share 10 percent of their previous year’s income among their workers.
This distribution is determined taking into account the hours worked by each employee.
- The days worked (including disabilities, maternity periods, vacations, permits and holidays).
- The income level.
The company shares 10 percent of its income among employees according to the number of days worked by each one, therefore, employees who have been with the company for longer will receive a greater amount.
Employees receive a portion of their annual salary based on the level of temporary employment they have. This part is assigned according to the total wages earned throughout the year.
The second part of the remuneration is based on the total annual salary of each worker, respecting the idea of temporary employment.
A company with an income of 400 thousand pesos and four employees must allocate 40 thousand pesos (10% of the total) as profits for the employees.
The total amount will be separated into two parts. The first will be distributed among the days worked by each employee.
If three of them worked 300 days and another 100, adding a total of one thousand days of work.
After that, the 20 thousand pesos will be divided among the thousand days, resulting in 20 pesos per day.
The result of the operation is multiplied according to the number of days worked by each worker.
Therefore, those who worked 300 days would receive 6,000 pesos, while those who worked 100 days would receive 2,000.