What is the vacation bonus?
The vacation premium is an extra percentage paid to the worker for each day of vacation they have. In Mexico, the minimum vacation bonus is 25% of the daily salary, for each day of vacation. This is stipulated in article 80 of the Federal Labor Law.
When is it paid and how is it calculated?
Since the new decent vacation law did not increase or decrease the proportion of 25% of the daily salary for the vacation bonus, it increases in the same proportion as the increase in days.
Thus, for example, a worker who will enjoy a 12-day vacation period for the first time and who has a daily salary of 500 pesos will have to make the following calculation:
25% of 500 pesos is equal to 125 pesos.
These 125 pesos must be multiplied by the 12 days of vacation, which gives a result of 1,500 pesos. Be careful, this is considering the net salary, that is, after taxes.
The vacation premium is paid upon completing one year of service or when the worker goes on vacation. And there are companies that offer more substantial vacation bonuses, up to 50% or even 100% of the daily salary, multiplied by the vacation day to be enjoyed.
At the time, the PAN senator, Gustavo Madero, celebrated the increase in vacation days and, with this, the value of the vacation premium that each worker receives per year. But he considered that the creation of formal jobs is important.
For the calculation of a settlement, the worker must demand the payment of his corresponding vacation premium, in case he has not yet enjoyed it.
The dignified vacation reform enters into force as of January 1, 2023 and here you can find its details.