Fringe benefits

hansbert

*** Sin Bin ***
Mar 1, 2002
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linguisticservices.aio-world.net
Apart from benefits related to wages (Christmas bonus, share in the company profit, payed vacation) what other benefits is an employer obliged according to DR laws to grant to his employees
(social security, medical insurance etc.) What is the present regulation (costs for the employer) and what will the new system be like ?
 

Fabio J. Guzman

DR1 Expert
Jan 1, 2002
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The new social security system in effect later this year calls for:

1) Health Insurance: Funded with monthly contributions of 10% of the worker's salary, 7% from the employer and 3% from the worker.

2) Old Age Pension: Funded with monthly contributions of 10% of the worker's salary, 7.12% from the employer and 2.88% from the worker.

3) Accident Insurance: Funded entirely by the employer with monthly contributions of 1 to 1.6% depending on the risk profile of the job.

The old social security system only covered workers with salaries of up to approx. $4000 pesos a month and total contributions amounted to approx. 10.5% of the worker's salary per month. The main problem, however, was that it didn't provide the services it was supposed to, for example, health care. Most employers paid private health insurance to cover their employees.
 
S

Stephen

Guest
What applies to household employees???? Are they exempt from the new laws?