How is the fourteenth salary calculated and when is it paid in Ecuador?

Workers on the Coast and Galapagos must receive the fourteenth salary _also known as a school bond_ until Tuesday, March 15. This bonus corresponds to a unified basic remuneration, that is, $425.

The allocation of this salary is covered by article 113 of the Work codewhich establishes an annual bonus for workers in general and a unified minimum basic remuneration for domestic service workers.

For its payment, the school system of each region is taken into account, for this reason it is known as a school bond. For this reason, while in the Coast and Insular Region it is canceled up to the 15th of this month, in the Sierra and Amazon you must pay until August 15.

The period that includes the fourteenth remuneration on the Coast and Galapagos runs from March 1 to the last day of February of the following year, while in the Sierra and Amazon it runs from August 1 to July 31 of the following year. If the worker did not complete the period, he will be entitled to a proportional part which will be calculated until the moment of your retirement from the company.

Retirees by their employers, retirees from the Ecuadorian Social Security Institute (IESS), as well as pensioners from the Military Insurance and the National Police are also entitled to the fourteenth salary.

Those who have decided to receive their fourteenth remuneration monthly will not be able to access that bonus. In addition, article 115 of the Labor Code establishes that craft workers and apprentices are excluded from this bonus.

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The fourteenth salary was implemented from 1968, six years after the validity of the thirteenth salary that was initially delivered only to members of the “Caja de Previsión” (current Social Security). (I)