Q:
What is a 13-month salary?
A:
Quick Answer
A 13-month salary refers to a payment made to employees above their normal salary, usually equivalent to a month's salary. This type of payment is made as mandated by local law or as part of an employment contract.
Continue Reading
Credit:
Oleg Prikhodko
E+
Getty Images
Full Answer
As of 2014, Italy, Mexico, Nicaragua, Chile, Columbia, Argentina, the Philippines and Brazil are countries that require employers to pay employees a 13-month salary. In these countries, the disbursement of this payment is required to be done in December. The amount of the payment is calculated differently by each country. In France, a 13-month salary is not required by law but is customarily included in work contracts.
Learn more about AccountingRelated Questions
-
Q:
What goes on a bookkeeping checklist?
A: Items on a bookkeeping checklist vary according to the period covered: day, month, quarter or year. For example, on a daily bookkeeping checklist only two ... Full Answer >Filed Under: -
Q:
What are some tips on making a profit and loss statement template?
A: A profit and loss statement, or P&L, shows income and expenses over a period of time, such as a month, quarter or year. Categories of income and expense in... Full Answer >Filed Under: -
Q:
What is the role of the accounting department?
A: The accounting department is responsible for the preparation of financial statements, closing the books at the end of the month and preparing any necessary... Full Answer >Filed Under: -
Q:
How do you set up a bi-weekly payroll calendar?
A: Setting up a schedule to be bi-weekly, every other week in a calendar month, is easy. QuickBooks is one software option that is used in payroll: form sched... Full Answer >Filed Under:
