How and when is the seniority premium paid in Mexico?

In this summary we will provide data related to the scenarios in which a worker can receive seniority premium, in other words, cuánd and cóHow the seniority premium is paid in Mexico.

Also, the necessary conditions will be shown so that you can take advantage of it. In other words, regardless of the reason for which the employment relationship ends, be it dismissal, resignation, it is established payment of the seniority premium.  Of course, as long as you meet the established time.

In the employer-employee relationship, it is essential that there are certain laws, stipulations, rights, and regulations that protect said relationship. Whose commitments and benefits must be associated with the time in which the employee works in said company.

To know exactly how pay-for-work works, we need to know and understand when and how the seniority premium is paid. The seniority premium is paid from a stipulated time, which is required at the time of culminating the employer-employee relationship. Above all, if this worker resides in Mexico, he must be very attentive, since it represents an acquired right.

 What is really the seniority premium?

The seniority bonus is a benefit what is given to the workers after finishing a period or an employment relationship with your employer. However, this payment in the end is not given to all people. It is not given to all people, because you have to comply with certain periods of time and with certain conditions that we are going to explain.

As its name says, it is a cousin that is given by the service time provided by the worker to the Company, due to its age. To meet this premium, you must accumulate fifteen (15) years of work in the company.

When should the seniority premium be paid?

The first condition, and the one that dominates the most, is that the employee must complete at least fifteen years of service in the company so that later, you can receive your payment for the work.

However, there are also other scenarios where those fifteen (15) years can be modified. For example, if a staff is fired by his employer, it does not matter if he has not reached the age of fifteen, he will still be granted a seniority premium. In contrast, in the scenario a resignation, the person does have to have reached the age of fifteen in order to access the premium.

Another scenario where the person can count on the premium is, before a disability, but you must complete fifteen years of service before you become disabled. If you are disabled after four (4) or five (5) years of working in the company, you do not get your disability premium.

retirement and retirement They are also a reason for a person to access the seniority premium. Obviously, if you have already been working for the company long enough, it is understood that it has been more than 15 years old. In this way, the seniority premium is granted without placing that condition on you when you leave.

And if the worker dies, the seniority premium can also be granted to their relatives, but the worker must have at least fifteen years of work. If he dies before his fifteenth birthday, then the seniority premium is not given to the person. Although, well in this case, it would not be the person but her relatives.

Botton line, the seniority premium, is granted when the person has fifteen years of service and their employment relationship ends. It is also granted in case of dismissal, resignation, disability and even death. Of course taking advantage of the conditions already explained.

How should it be paid?

To perform the calculation of How should the seniority premium be paid in Mexico?, we must bear in mind, is that each year of work is going to take about twelve days of work to accumulate. And in the end the premium has an accumulated amount that can be delivered to the worker.

In other words, for each year of service, twelve (12) days will be counted for the calculation of your corresponding premium. On the other hand, it must be borne in mind that the seniority premium must, at most, be calculated based on two (2) minimum wages. And at least it will be calculated based on a minimum wage stipulated in the country.

In other words, if you are a worker who earns four minimum wages, those twelve days of work will be calculated based on two general minimum wages. They will not be calculated based on the real salary of the worker. On the other hand, as we mentioned before, it must be at least fifteen years old.