Overview

Capital

Currency United States Dollar (USD)

Taxes

Employer

Employee

Termination

Termination Process The default is 2 months, but can be changed to the employers liking.

Advance Notice Employee must provide 15 days written notice.

Severance Pay Severance pay is counted at the rate of one week’s wages for each year the employee has worked for the company. The employee also receives vacation payment which is 30 days for each 11 consecutive months worked. Additionally they receive the 13th month payment.

Mandatory Benefits

Pension Fund

Employer contributes 4%.
Employee contributes 8.5%.

Minimum Wage

General Minimum wage is $416 per month.