Who is aguinaldo

Create a personalised content profile. Measure ad performance. Select basic ads. Create a personalised ads profile.

Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. The term aguinaldo refers to an annual Christmas bonus that businesses in Mexico are required by law to pay to their employees.

The payment, sometimes called the thirteenth salary, must be made by Dec. Companies that fail to make an aguinaldo payment may be fined as much as 5, times the legal daily minimum wage.

Some other Latin American nations, such as Costa Rica, also require employers to pay their employees an aguinaldo. Mexican labor laws require employers to pay their employees a bonus or an aguinaldo every year.

This is on top of their regular salaries and other benefits. The law, which was established by legislation passed in , mandates that workers are entitled to an annual bonus in December that is the equivalent of at least 15 days' wages. An aguinaldo may be prorated for those employed less than one year. Employers must withhold taxes from aguinaldos as they are subject to taxation.

Employees are not required to pay income tax on their aguinaldo payment of an amount equivalent to 30 days of the legal daily minimum wage. Aguinaldos are also commonly paid by employers for the Christmas season in other Latin American countries, such as Guatemala and Costa Rica. Employers in Argentina and Uruguay give their employees an aguinaldo in two payments: one in June and the other in December.

Aguinaldos are mandatory. This means that all employers are legally required to pay them. Employees who don't receive their bonuses can report their employers to the Federal Office of the Defense of Labor. Despite the consequences, only a minority of Mexican workers actually receive the payment, due to unfavorable working conditions, such as informal contracting and temporary employment. For example, a part-time gardener without a formal contract may not receive an aguinaldo payment.

Some people may choose to tip their workers, including maids, postmen, delivery people, before the holidays even if they aren't required to do so. Thirteenth salaries like the aguinaldo are found around the world but are subject to their own variations. For instance, it is mandatory for employers in Bolivia to pay a second aguinaldo if the country's gross domestic product increases by more than 4.

The aguinaldo provides a seasonal boost in demand for retail products such as automobiles, appliances, clothing, and furniture. A large portion of this additional income gets spent in department stores.

Employees who receive an aguinaldo payment are more likely to show loyalty to a company that values them. We strive for accuracy and fairness. If you see something that doesn't look right, contact us! Subscribe to the Biography newsletter to receive stories about the people who shaped our world and the stories that shaped their lives. After his execution, he became an icon for the nationalist movement. Ramon Magsaysay became the seventh president of the Philippines in and is credited with restoring law and order during the Philippine crisis of the s.

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