|Tuesday||Jan-01||New Year's Day|
|Monday||Mar-04||Carnival (1st Day)|
|Tuesday||Mar-05||Carnival (2nd Day)||Compensated by Sat 20 February|
|Friday||Apr-19||Good Friday||Friday before Easter Sunday|
|Wednesday||May-01||Labour Day||International observances began with the Haymarket Riot in Chicago|
|Friday||May-24||Anniversary of the Battle of Pichincha|
|Friday||Aug-09||Independence Day Holiday||Primer Grito de Independencia|
|Saturday||Aug-10||Independence Day||Primer Grito de Independencia|
|Wednesday||Oct-09||Independence of Guayaquil|
|Friday||Nov-01||All Souls' Day Holiday|
|Monday||Nov-04||Independence of Cuenca Holiday|
|Friday||Dec-06||Foundation of Quito Day|
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Minimum wage is US$451 monthly (including 13th and 14th salary), from 1 January 2019.
40 hours weekly, and 8 hours daily.
* Saturday and Sunday are considered mandetoryrest days.
* Work between 7pm - 6am are paid at 125%.
Overtime is considered any hours additional to 8 in one day, or 40 in one week. It is paid at 150%, or 200% is overtime hours are after midnight.
Employers conrtibute 0.16% of workers wages to their pension fund, Employees contribute either 6.64% (public and private sector employees) or 8.64% (public sector). Additionally, the government provides 40% of the cost of old age, disabillity and survivor pension contributions as an employer.
Employers contribute 12.15% of the employees salary to social security. Employees contribute 9.45% of their salary to social security.
After a year of service, employers contribute 8.33% of wages to this fund. Employees can choose to contribute.
13th Salary: An additional extra salary payment made as a christmas bonus by December 22nd. The amount used to calculate includes bonuses, commission and overtime (this means it can equal more then a months salary).
14th Salary: Equal to the government minimum wage, and paid in either March or August depending on location.
Contracts can be terminated with just cause with out severance (with approval from labor augority) for:
* Lack of discipline
* Serious offense against the employer
* Serious incompetence
* Non-compliance with regulations
Otherwise, 30 days notice is required.
There is no statutory notice period, it is decided within the contract.
If employees are not given notice, they are entitled to receive one paycheck for every ear employed by the company up to 25 months of payments. Additionally, sudden dismissal bonus is offered at 25% of monthly wages for each year employed.
* If employed for over 20 years, worker is entitled to retirement pension.
Employees are entitled to 15 vacation days yearly after 5 years of employment, and an extra day for every year following at a maximum of 30 vacation days yearly.
Workers under the age of 16 receive 20 days, and between 16-18 receive 18 days.
Up to 2 months of sick days, paid at 50% rate. Extended sick leave is paid for a nonfixed amonut of time by social security.
New mothers are entitled to maternity leave of 12 weeks. Payment is shared by the social security and the employer. Social security pays 75%, the employer pays 25%.
* 10 days are added for additional births.
New fathers are entitled to paternity leave of 10 days.
* 5 additional days are added for caesarean or multiple births.
* 8 additional days are added for babies who ae premature or require special care.
* 25 additional days are added for sever disability, or illness.
No statutory regulations.
Hospitalization Leave: each parents is entitled to 25 days leave if their child is hospitalized.
Medical leave (maternity): A woman may leave work for up to a year for complications from pregnancy that present an inability to work.
Salaries are paid on a semi-monhtly, or monthly basis on the last day of the month. Semi-monthly payment are very common, providing 40% of monthly wage in first half of the month, and remaining 60% at the end.
VAT is 12% standard rate.
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