In a fixed term contract the contribution for health and pension must be calculated according to the worker’s monthly salary. In this sense, it may not be less than the minimum wage (1 million pesos) or greater than 25 minimum wages.
HOW TO CALCULATE THE MANDATORY HEALTH AND PENSION CONTRIBUTION?
According to experts from Vélez Jaramillo Asociados Abogados, “in the case of the health contribution, the amount will be 12.5 percent of the contribution baseof which the employer corresponds to 8.5 percent and the employee corresponds to 4 percent”.
Regarding pensions, the contribution will be 16% of the contribution base. From this, the employer assumes 12% and the employee 4%.
“If the employee earns a salary higher than four minimum wages, he must make an additional contribution of 1 percent on the contribution base income allocated to the Pension Solidarity Fund“explained the group of lawyers.
For example, in the case of someone who earns minimum wage and has a fixed-term contract, the base quote would be 1,000,000. In this sense, since the contribution to health is 12.5%, the total value would be 125,000 pesos. Of this figure, the employer must assume 74,375 pesos and the employee 50,625.
Now, in the case of pensions, with the previously proposed base salary, the contribution would be 160,000 pesos. Which corresponds, 120,000 for the employer (12%) and 40,000 in the case of the employee (4%).
From Vélez Jaramillo Asociados Abogados, it was also indicated that the contributions to the General System of Occupational Risks will be calculated according to the risk category to which the worker is exposed, depending on the function performed. It should be noted that the payment of these contributions is paid by the employer and not by the employee.
BRIEFCASE
With information from El Tiempo*
