Profit sharing is one of the most significant times of the work year in Mexico, representing not only a constitutional right of workers but also a reflection of the financial health and gratitude of companies to those who contribute to collective success with their daily efforts. . With 2024 underway, anticipation is growing among the workforce eager to know the details of when and how this profit distribution will take place.
Below, we will break down everything you need to know about this year’s profit sharing: from its definition to the eligibility criteria and key dates so that, as a worker, you can fully exercise your right and be informed about this important benefit.
What is profit sharing?
Participation in profit sharing constitutes a constitutional right for those employees who provide their services to an individual or entity in exchange for remuneration, as indicated by the Ministry of Labor.
The way in which this payment is distributed is calculated based on the total hours worked by the employee, also considering periods of disability, maternity leave, vacations, permits and holidays.
Another criterion to determine the amount of this payment is the worker’s income level. By law, companies are required to distribute 10% of their profits among their employees, taking into account both hours worked and salaries received. But when is the 2024 profit sharing paid?
Which workers receive profit sharing?
All workers who provide their services to an individual or company in exchange for remuneration are entitled to participate in the distribution of profit sharing.
This right also extends to temporary and permanent workers, as long as they have worked at least 60 days during the year.
In addition, people who work in a company or establishment covering temporary or temporary positions, as well as those who perform extraordinary or specific tasks for a specific project, also have the right to receive the profit sharing.
Who is not entitled to receive profits?
As stipulated in section 1 of article 127 of the Federal Labor Law (LFT), employees who hold high-ranking positions such as directors, administrators, general managers, as well as partners and shareholders, are excluded from the right to share profits. .
Likewise, those professionals, technicians, artisans and other people who have offered their services for fees, without establishing a formal employment relationship, are not eligible to receive 2024 profits.
Temporary workers who do not reach a minimum of 60 days worked during the fiscal year are also excluded from this benefit, as are personnel dedicated to domestic work, who are not entitled to the 2024 profit sharing. And to all this, when Are they paid?
When is the 2024 profit sharing paid?
In accordance with the Federal Labor Law, the period for profit sharing 2024 for companies runs from April 1 to May 30, and for individuals, this period runs from May 1 to June 29.
The same law establishes that, in the event that the employee does not receive his share of the profits or it is delivered partially, he has one year to make the corresponding claim, starting from the day after the deadline for the payment of said utilities.
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2024-05-04 18:26:50
