Overview

Capital Santiago

Currency Peso

Date Format dmy

calendar icon Public holidays calendar

Taxes

Employer 2.40% - Unemployment Insurance
0.95% - Occupational Accident

Employee 10.00% - Pension Plan
0.60% - Unemployment Insurance
7.00% - Health Plan
0.00% - 634,756.50
4.00% - 634,756.5 - 1,410,570
8.00% - 1,410,570 - 2,350,950
13.50% - 2,350,950 - 3,291,330
23.00% - 3,291,330 - 4,231,710
30.40% - 4,231,710 - 5,642,280
35.00% - 5,642,280 +

Termination

Termination Process Employers must provide their employees 30 days notice of termination.

Advance Notice While dependent on contract specifications, the standard notice period is 30 days.

Severance Pay Employees are entitled severance payment of one months salary for each year they were employed by the company.

Mandatory Benefits

Pension Fund Employees contribute 10% of their monthly wages, employers are not obligated to contribute.

Social Security Employers are required to contribute 3.35% of wages. Employee contributes equal to 17.6% of their salary.

Minimum Wage

General The monthly minimum wage is 276,500 CLP ($410)

Working Hours

General Full time employment is considered 45 hours weekly.

Overtime Overtime is calculated at 150% of normal hourly wages

VAT

General 19% standard rate.

Payment

General 1 All companies have their own payroll and benefit structure. Payments however must be made at least monthly.