Employee Benefits Accrual in Ecuador ​

Year-End Bonus Allocation ​

The year-end bonus, traditionally paid in December, equates to 8.33% of an employee's annual salary.

Severance Package ​

Workers are eligible for a severance payment that amounts to one month's salary. On top of that, they also receive a severance bonus, which sums up to 10.41% of their annual salary.

Vacation Entitlement ​

After one year of employment, employees have a legal right to 15 days of annual leave, which accounts for 4.12% of their annual salary.

Notification Period ​

For employees who have completed a year of service, a 30-day notice period is mandated, which is equivalent to 8.24% of their yearly salary.

Additional Annual Bonus ​

An extra yearly bonus, paid in March and August, is set at 8.33%.

Annual Salary Accrual ​

In total, mandatory benefits accrue to 39.52% of an employee's annual salary.