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When do they pay the July 2024 bonus and how is it calculated?

When do they pay the July 2024 bonus and how is it calculated?

The month of July is approaching with a firm step, bringing with it the long-awaited National Holidays, celebrated with pride and joy on the days 28 and 29. In this festive context, various schools are preparing to begin their well-deserved vacations, allowing students and teachers to enjoy a well-deserved rest. On the other hand, in both the public and private sectors, a special moment is approaching for workers: gratification.

This economic incentive, received twice a year, represents invaluable support for many families, providing financial relief and an opportunity to enjoy national celebrations with greater tranquility and joy. Gratification, so desired and valued, becomes a reason for expectation and gratitude in the workplace, highlighting its importance as a recognition of the effort and dedication of workers.

When do they pay the 2024 bonus?

This financial compensation is paid in two periods, in the month of July and December. It can be paid the first 15 days of the month of July. Day number 15 being the maximum payment date.

Gratuity 2024: what happens if they don’t make the payment?

The law states that if the payment is not paid in the fortnight of July or December, the employing company must be sanctioned with fines that can range from S/2,227 to S/22,275 for small companies. And for a non-mype, the amount ranges up to S/129,294.

How to calculate the bonus?

To calculate the bonus, you must know that this amount is an additional payment to your monthly salary. For this, the computable remuneration in force until June 30 is considered. Likewise, the months worked by the collaborator are taken into account (this may vary, depending on the time they have been working in the company). To this is added the extraordinary bonus of 9%, and thus the payment of the bonus corresponding to the month of July is obtained.

What is truncated gratification?

Truncated gratuity is a right that arises when the worker stops working, as long as he or she has provided at least one full month of services. The calculation of the amount of the truncated bonus is carried out in proportion to the complete calendar months worked in the period in which the termination of the employment contract occurs. It is important to consider this provision when calculating and granting the corresponding bonuses to workers at the end of their employment relationship.

Source: Larepublica

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