Venezuelan Bolivar (VEF)
Date Format

calendar icon Public holidays calendar


9.00%, 10.00%, or 11.00% depending on risk - Social Security
2.00% - Unemployment
2.00% - Housing Loan Regime
2.00% - Employee training contribution (INCES)
0.75% - 10.00% - Workplace prevention, conditions, and environment contribution (LOPCYMAT)
4.00% - Social Security
0.50% - Unemployment Insurance
1.00% - Housing Loan Regime
0.50% - Employee training contribution (INCES)

Minimum Wage


As of January 2020, the gross monthly minimum wage is 250,000 VEF. 

Working Hours


A full work week in Venezuela is 5 days and 40 hours, or 8 hours a day.  In general, the work week should not be longer than 5 days and must consist of 2 days of consecutive rest days (one of the days must be a Sunday).  However, there are some exceptions:

  • If the work is related to public interest, technical reason, or unforeseen circumstances- a 2 days rest period may be any 2 consecutive days of the week.
  • Shift work- In the case of shit work, rest days do not have to include Sundays. If there is only one rest day per week, the employee must be given an addition vacation day in lieu.

In addition, the workday cannot be more than 11 hours total.


Overtime is paid at a rate of 150% of the normal pay.

Payroll Contributions

Social Security
Employees: contribute 4% on a monthly basis, limited at VEF 37, 108.4 per month.
Pension Fund
Employees: contribute 4% of their wages. The contribution ceiling is five times the minimum monthly wages.


Public Holidays

There are 12 public holidays.

Maternity Leave

Mothers receive a total of 26 weeks of maternity leave; 6 weeks before the expected due date and 20 weeks following the birth.  Salary is paid at the rate of 66.6% by social security.   

Paternity Leave

New fathers can take up to 14 days of paternity leave. 

Parental Leave

Parents are entitled to one paid leave day a month in the event that their child is ill up until the child is 12 months old. 


Termination Process

In Venezuela, the majority of employee contracts are subject to what is referred to as ‘employment stability.’ Under employment stability, employees can only be terminated for just cause. 

The employer must notify the labor courts within 5 days after dismissal and include justification for the termination. 

Notice Period

There is no statutory notice period in Venezuela, this is usually something that is agreed upon in the employment contract. 

Severance Pay

Employees are entitled to what is called ‘seniority benefit’ which is equal to 30 days’ pay for every year employed.

Probation Period

In Venezuela, probation period is not outlined in the labor laws.  However, it is possible to terminate an employee without cause in the first 30 days of employment. 



VAT is 12% standard rate.