The PTU is the Participation of Workers in the Company's Profits, which is a benefit that all employers are obliged to fulfill with their workers.
If the company did not generate profits, said benefit does not have to be granted. The right of workers to receive profit sharing is a constitutional right established in article 123 of the Mexican Constitution and also reflected in the Federal Labor Law (LFT).
According to the legislators in Mexico, the PTU is an instrument to contribute to the redistribution of wealth in the country and a benefit that stimulates productivity within companies since it rewards the efforts of employees in generating profits within the companies.
PTU must be paid no later than May 30 of the following year to which it refers.
Who is entitled to the PTU payment?
- Anyone who is in the service of a patron
- Any worker whose work period would have been at least 60 days during the year
- Former employees who have worked a minimum period of 60 days
Who is NOT entitled to PTU payment?
- Directors, general managers and administrators of the employer
- Temporary workers who have worked periods of less than 60 days
- Partners and shareholders of the company
- Independent service providers, since there is no employment relationship
- domestic workers
What is the amount of PTU to be paid?
The amount of PTU to be distributed to workers is 10% of profits, however, according to law, the following limit will be applied:
«The amount of profit sharing will have a maximum limit of three months of the worker's salary or the average of the participation received in the last three years; The amount that is most favorable to the worker will be applied.”
Which companies are not required to pay profit sharing?
- Newly created companies during the first year of operation
- Non-profit associations
- Organizations dedicated to extraction during periods of exploration
- Companies whose declared annual income does not exceed 300,000 pesos (approximately 15,000 dollars)
0 comentarios