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How much are costs for Workers Benifits in Colombia for a company?

10 years ago
UPDATE FOR BUSINESS OWNERS - LOWER COSTS FOR EMPLOYEES IN 2014:
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In efforts to boost employment the government has reduced company costs for employees by 13.5% which really adds up.

In January you will no longer have to pay the following services AS A EMPLOYER:
SENA 2%
ICBF 3%
SALUD / HEALTH 8.5%
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TOTAL SAVINGS 13.5% OF THE SALARY PAID TO YOUR EMPLOYEES.
You are still required to charge 4% to your employee and make sure they have health insurance, pension etc.

The new total cost you pay an employee including vacations, prima, sestantias, y intereses de sesantias is 40.66% of the salary each month. In other words 40.66% on top of the salary is what the benefits expenses come out to for 2014. This cost was 54% for 2013.

TIP FOR SMALL BUSINESSES: Pay liquidation on a monthly basis so when your employees leave you don't feel like your going broke. on a minimum salary your paying about 130,000 pesos a month if you do that. if you wait a year then it seems much more expensive.

If anyone needs help creating companies or employee contracts in Colombia give us a call at Visas y Tramites Intl, www.colombiabusinessvisa.com cheers, James 301 337 1881, 444-6634

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