What Is a 13-Month Salary?
Last Updated Mar 31, 2020 2:22:07 PM ET
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.
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.
More From Reference
How to Use Quizlet Live for Virtual Learning
What Is the Lincoln Project — and Why Will It Matter Post-Election?
What Features Does Infinite Campus Offer for Students?
Stay Up-to-Date in 2021 With These Custom Photo Calendar Ideas
How to Change Your Mailing Address Online
10 Must-Watch TED Talks That Have the Power to Change Your Life