Severance benefits calculation
We calculate your employees' severance benefits under article 142 of the LOTTT, using the dual system. From $65.
Requesting a quote doesn't commit you to anything
- You tell us about your case. It's free.
- We send you the price in writing, within 1 to 3 hours.
- You decide. If it works for you, we start. If not, you delete it with one click and pay nothing.
No one will pressure you. Your information is used only for your case.
Is it for you?
If any of these sounds like you, this procedure is for you.
- Companies that need to calculate their employees' severance benefits, either for a final settlement when employment ends or to keep that labor liability properly accrued while the employee is active
What's included and what isn't
Everything clear from the start. No fine print.
Includes
- Full salary calculation with pro-rated vacation bonus and profit-sharing bonus.
- Quarterly guarantee (15 days per quarter) under article 142 of the LOTTT.
- Retroactive calculation (30 days per year at the last full salary).
- Comparison and application of the more favorable result.
- Interest on severance benefits.
- Breakdown signed by a licensed public accountant.
Does not include
- Paying the severance benefits to the employee (the company does that).
- The other items of a full final settlement (vacation, profit-sharing bonus, severance indemnity: see Final settlement calculation).
- Monthly payroll management (a separate service).
- Legal representation in labor disputes.
What you need
Check off what you already have. You don't need everything to request your quote.
You have 0 of 5.
- Employee's start date
- Salary history
- Profit-sharing bonus and vacation bonus days that apply
- Guarantee deposits already made, if any
- Your contact details to coordinate
How the process works
You do very little. We take care of the rest. The whole process: on average, 2 to 5 business days.
- Step 1
Send us the history
You send us the employee's history.
You do this - Step 2
We calculate the full salary
We work it out with its pro-rated portions.
We do this - Step 3
We take the more favorable one
We compare the quarterly guarantee and the retroactive calculation, and pick the higher.
We do this - Result
Done
We add interest and deliver the signed breakdown.
You receive it
Once we have the employee's history.
What it costs and how to pay
Clear from the start.
Our fee: we do all the work for you.
How you pay: You pay once, when we start. In dollars, in bolívares at the official BCV exchange rate, or with Cashea.
How is your investment calculated?
Your investment depends on the seniority and complexity of the case. What you pay us, professional fees from $65 per employee. It goes up with years of service and salary history
What goes to the employee, the company pays the resulting severance benefits; we calculate them and back them up Your accountant gives you the exact figure before you pay anything, no strings attached.
FAQ
What happens if I haven't accrued severance benefits?
The day an employee leaves, the whole liability hits you at once. Calculating them on time means knowing how much you owe before you're asked to pay.
What's the dual system?
A quarterly guarantee of 15 days versus a retroactive 30 days per year; the more favorable result is paid.
How much does it cost?
The professional fee from $65 covers the calculation for one employee with a full history; your whole payroll is quoted as a package.
What's the full salary (salario integral)?
Base salary plus pro-rated vacation bonus and profit-sharing bonus.
Is it only for when employment ends?
No: it's also for keeping the labor liability accrued while the employee is active.
About this procedure
Severance benefits are the most important labor right and the heaviest liability a company carries, and also the one most often miscalculated. They're governed by article 142 of the LOTTT, which sets a dual system: on one side, the quarterly guarantee, a deposit of 15 days of full salary (salario integral) every three months; on the other, the retroactive calculation of 30 days of salary for each year of service at the last full salary. The law requires paying the employee whichever of the two is more favorable.
There are two scenarios where this calculation is critical. One, when the employment relationship ends, where it's the heart of the final settlement. And two, while the employee is still active, because the company must keep that labor liability properly accrued in its books; a company with no idea how much it owes in severance benefits is walking blind on its biggest commitment to its people.
We calculate your employees' severance benefits under the dual system of article 142, including the full salary with its pro-rated vacation bonus and utilidades (mandatory profit-sharing bonus), plus interest. We deliver a clear calculation signed by a licensed public accountant, whether you need it for a final settlement or to keep your accrual up to date. The price starts at $65 per employee and goes up with seniority and complexity. An accountant reviews the case and gives you the exact figure before we start, no strings attached.
Legal framework and important notes
Ley Orgánica del Trabajo (LOTTT, Venezuela's labor law)
- Severance benefits are calculated under article 142 of the LOTTT using the dual system. A quarterly guarantee of 15 days of full salary versus a retroactive 30 days per year at the last full salary, with whichever is more favorable to the employee prevailing
- Full salary includes pro-rated vacation bonus and profit-sharing bonus (art. 122)
- The company covers the payment
We guarantee our service, not what the agency decides. If something depends on them, we tell you clearly and in time.
Is your case different?Ask us, message us on WhatsApp or book a free consultation. A real person answers you.