Most benefits from employment are provided in addition to your salary. For example:
- Vacation: an employee is entitled to 30 calendar days of paid vacation per year. The salary is equivalent to the monthly salary. An employee of a small and micro company is entitled to 15 calendar days of paid vacation per year.
- Bonus: an employee receives two bonuses per year, one on Perú's Independence Day (July 1) and the second on Christmas. The bonus salary is equivalent to the monthly salary.
- Health insurance: employees and their families are compulsory members of the public health service (EsSalud). To provide health insurance, the employee pays a contribution of 9% to the public health system.
- Compensation for Time of Service (CTS): This law pretends to protect the existence of the employee after the termination of employment. This amount is accumulated over time from the first day of work. To ensure that compensation is available, the employer must secure the CTS twice a year (May 15 and November) in a bank account that can be chosen by the employee. For each completed calendar month, 1/12 of the salary must be deposited in the selected bank account. Therefore, at the end of the year, the entire deposit should be approximately equal to one monthly salary. To benefit from CTS, the employee must have been in the company for at least one full month.
- Maternity leave (visit the section "Social security in Lima")
- Family allowance: an employee who has one or more children under the age of 18 is eligible to receive an additional monthly payment of 10% of the monthly minimum wage. These include children over the age of 18 who are in higher education up to the age of 24.
- Fields of participation in profits: companies with more than 20 employees have to share their annual earnings before taxes with their employees.
- Mining companies, wholesalers, retailers and restaurants must share 8% of their profits
- Manufacturing, fishing and telecommunications companies must share 10% of their profits
- Companies that do not fall into these categories have to share 5% of their profits with employees
It is important to keep in mind that employee profit sharing represents a deductible tax expense.