In Ecuador, workers who are dependent on the company must receive their benefits by April 15. The value of the payment will depend on the profit that the companies achieved in the previous fiscal year, along with the time worked.
According to him Article 97 of the Labor Law An employer or private sector company must recognize 15% of net profit for the benefit of its employees or former employees, divided into: 10% for all workers and 5% according to their family obligations: spouse or common-law partner, children under 18 and children with disabilities of any age.
What it means and how to interpret your score and credit history in Ecuador
How the profit is used depends on the financial priorities of the worker receiving the payment. According to Juan Sebastián Aguilar, financial education specialist at Fundación Crisfe, “financial planning before disbursing these funds is essential for their good management, prioritizing the different destinations that these resources can have, will depend on each person’s financial situation.
How to manage money from profit?
Receiving a large amount of money can be tempting to spend it immediately. However, there are ways to use the money received from utilities wisely.
Source: Eluniverso
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