8.50% - Medical Plan
9.00% - Family Welfare Fund
4.00% - Medical Plan
0.00% - Up to 36,140,040
5.05% - 36,140,040 - 56,365,200
9.15% - 56,365,200 - 135,939,600
11.16% - Over 135,939,600
The minimum gross monthly wage in Colombia is $877,803.00 COP. In addition to this, there is a monthly transportation subsidy of $102,854.00.
Paid Time Off
Employees are entitled to 15 vacation days.
The first 2 days of sick leave are paid at a rate of 2/3 of the normal wage and are the responsibility of the employer to cover the wages. From the 3rd to 180th day of sick leave, the employee still received 2/3 of their normal wages, however, it is the responsibility of social security to pay the employee.
There are 14 weeks of paid maternity leave in Colombia. Mothers are able to begin maternity leave at least 2 weeks before the expected due date.
Fathers are entitled to 8 days of paid paternity leave.
There is no additional statutory parental leave other than maternity and paternity leave in Colombia.
If an employee was injured at work, they are entitled to 100% of their salary for the duration of their work-related injury leave.
Full time employment is considered 48 hours weekly, and 8 hours daily. Hours in one day cannot exceed 10.
Maximum overtime in one week is 12 hours.
Payroll cycle is bi-monthly or monthly.
19% standard rate
The employer contributes 12%. The employee contributes 4%. If the employee’s salary exceeds the minimum wage between 4 to 15 times, they must contribute additional 1% to the pension fund.
Employers contribute 29.5% of workers wages, and employees contribute 8% of salary. Contributions are towards funds for pension, medical plan, and family welfare fund.
There is also a mandatory 13th and 14th salary (each amounting half a month’s salary) that are paid out in June and December.
In Colombia, it is possible for the employee or employer to terminate an employment contract with immediate effect and without notice. Termination must be communicated in writing to either party.
- If the termination is initiated by the employer, it is not mandatory for the employer to give a reason for termination unless there is an allegation of an unfair cause.
- For pregnant or disabled employees- the employer must get special permission to terminate the employee.
- For unionized employees- the employer must get permission from a labor judge in order to terminate an employee.
- If the employee terminates the employment contract due to a breach by the employer, they are entitled to severance payment.
Notice periods in Colombia are only necessary for fixed term contracts, it is not mandatory to give advance notice for indefinite employment contracts.
For the first year of employment, 30 days of wages are paid as severance to the employee and 20 additional days for every additional year employed.
Pay date is either on the 15th or 30th of the month, depending if the payroll cycle is bi-monthly or monthly.
A full-time work week in Colombia is 48 hours.
Overtime is paid at the rate of 150% of the regular pay.