| Payroll Contributions | Cost |
| Social Security Contributions (IMSS) The contributions include for;
|
Approx. 25% of the employee’s gross salary |
| Housing fund (INFONAVIT) | Around 5% of the employee’s gross salary |
| State payroll tax (depends on employee state and gross salary) | 1.8% to 4% |
| Christmas bonus (Aguinaldo): 15 days of pay | 4.11% |
| Vacation pay premium (A 25% salary premium needs to be paid for paid vacations. The Number of PTO in a year varies from 12 to 32 depending on the employee’s tenure) | 0.82% to 1.5% |
| Total | *36% (Approx.) |
Mandatory Employee Benefits
| Payroll Contributions | Cost |
| Christmas Bonus (Aguinaldo) | 15 days of pay paid once a year |
| Paid Time Off | 12 to 32 days. 12 days after one year of service with 2 days increased for an additional year of service and capped at 32 days |
| Separation pay | Voluntary resignation: Seniority premium of 12 days salary for each year of service
Termination with cause: Seniority premium of 12 days salary for each year of service. If an employee is terminated because of a performance issue, it cannot be considered termination with cause. Termination without cause: Three months of employee salary + 20 days of employee aggregate salary for each year of service. |
*Please note that any overage fee collected as part of the employer payroll costs will be refunded to the customer by Global Squirrels upon an employee’s termination of employment.
All numbers shown are approximate figures and vary due to changes in laws. It is also almost impossible to estimate accurate numbers since various contributions have a limit on the maximum contribution and some contribution criteria change based on employee gross pay.
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