Profit sharing constitutes a fundamental right for all Mexican workers employed in a company.
The Labor and Tax Manual on the Participation of Workers in Company Profits 2023 explains that this benefit aims to balance the relationship between work and capital, recognize the contribution of the workforce and improve the distribution of wealth.
The only exceptions to the obligation to distribute profits are newly created companies during their first or second year, those with a net profit of less than 300,000 pesos, as well as employees of the IMSS, public cultural institutions or non-profit entities.
What are utilities?
According to the Government of Mexico City (CDMX), profits represent a right for the working population, who offers their subordinate work to a physical or legal person in exchange for a salary, which gives them the right to participate in the profits. generated by the employer or company.
How should utilities be paid?
The Federal Labor Law (LFT) establishes that the distribution of Workers’ Profit Shares (PTU) begins with the calculation of the profits obtained by the company or employer during the corresponding fiscal year. Profits in 2024 will be based on those obtained in 2023.
Furthermore, the LFT indicates that companies must distribute these profits to workers between April 1 and May 30, while for individuals there is a period that goes from May 1 to June 29.
As established in the LFT, the first 10% of profits are distributed equally among all workers, regardless of their individual income. On the other hand, the second half of 10% of profits is distributed according to the salary received by each employee, taking into account the amount they receive daily in cash.
Who has the right to participate in the distribution of profits?
All employees, except directors, administrators, general managers, partners or shareholders, have the right to receive profits. Temporary workers who have worked less than 60 days during the corresponding fiscal year are also not included.
#paid #utilities
2024-05-04 03:35:17
