For all workers subordinated to an employer or company, the time to receive payment of profits is approaching. Supported by the Constitution and the Federal Labor Lawhe profit sharing It constitutes a very important element for employees and businesses in Mexico.
It is a legal principle that ensures the participation of employees in profits obtained by your workplace. In Debate we make this publication so that you know all about profit sharing and that you claim that right that is guaranteed by law.
This right to payment of profits allows employees to receive a segment of the net income achieved by their companies due to their economic activities or services provided in the sector. On other occasions we have already told you that payment of utilities must be in cashnot in kind, materials, food vouchers or merchandise of any kind.
The payment of profits, also known as Employee Profit Sharing (PTU), forces companies to share a fraction of their income with their employees, as long as these exceed 300 thousand pesos annual profit.
What are company profits?
The definition of profits is understood as the surplus of income over expenses and costs associated with the operation of the company during a specific period.
This constitutional benefit is supported by the Federal Labor Law, and applies to any entity or individual involved in the generation or distribution of goods and services.
You should also know that this money It has to be delivered to the worker himself and that, only if you are unable to collect them, it could be given to the person you designate as agent to receive that money. This letter must be signed by two witnesses.
Although the payment of utilities can represent a significant burden for companies, it is their obligation to pay them and As a worker, you should not give up that rightwhich is legally supported by the Mexican labor framework.
When are utilities paid?
Companies must complete this process before May 30 for legal entities and before June 29 for individualsestablishing clear limits for the delivery of these benefits.
For those workers who are no longer working in the companythe deadline to make this payment is extended until April 30 of the following year.
As dictated by law, it is mandatory iInform the former employee about the date and time in which you will receive your Employee Profit Sharing (PTU).
This notice can be given by email, in writing or through another communication channeland is usually provided at the time the employment relationship ends, whether due to dismissal or resignation.
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How is profit sharing calculated?
Workers' profit sharing is set at a percentage currently set at a 10% of net profitsaccording to the National Commission for Workers' Profit Sharing.
This amount is divided equally: one part is distributed equally among all workers considering the days worked, and the other is distributed based on the salary earned during the fiscal year.
Only basic salaries are considered for this calculationexcluding additional income such as overtime or bonuses.
Who is obligated to pay utilities?
In accordance with the Federal Labor Law (LFT), any company that obtains a net annual profit of more than 300 thousand pesos Through its production activities, marketing of goods or provision of services, it has the duty to distribute a part of these profits among its personnel.
Furthermore, the Tax Administration Service (SAT) dictates that all taxpayers, whether natural or legal persons with dependent workers, must distribute the Employee Profit Sharing (PTU).
However, they are recognized certain exceptions and specific cases that exempt employers of this obligation, which will be detailed below.
What are the companies that are not obliged to pay profits?
In accordance with article 126 of the Federal Labor Law (LFT), the following entities are released from the obligation to pay profits:
- Newly founded companies during their first year of activities.
- Newly created businesses focused on the development of new products, exempt during their first two years.
- Natural resource exploitation companies in their initial exploration stage.
- Non-profit private assistance organizations, such as nursing homes and foundations, that have legal recognition.
- The Mexican Social Security Institute (IMSS) and other decentralized public institutions that are dedicated to cultural, assistance or charitable work.
- Companies that do not achieve annual profits of more than 300 thousand pesos.
Who does have the right to receive profits and who does not?
They have the right to receive Employee Profit Sharing:
- All employees on active duty within a company, who maintain an employment contract and contribute to the operation of the company during the fiscal year.
- Workers of new establishments, who are considered part of the company for PTU purposes.
- Employees on temporary leave due to maternity or work accidents.
- Former employees who have worked at least 60 days during the fiscal year in question.
They are excluded from the distribution of Worker Profit Sharing:
- Directors, administrators and general managers of the company.
- Employees belonging to the public sector.
- Domestic workers.
- Personnel hired under temporary modalities.
Mexican law establishes specific protections to ensure that workers receive their profits fairly and without restrictions.
They include the free disposal of the profits received and the prohibition of their transfer to third parties. Workers have the right to receive their share directly in cash and They can claim payment up to one year after the deadline established.
How to verify if a company must pay profits?
To confirm this obligation, companies must calculate your net profits based on taxable income, excluding permitted expenses from your income.
The assistance of an accountant or financial advisor is advised to ensure the proper application of these calculations.
What happens to companies that do not pay profits?
Companies that do not comply with the distribution of profits within the established period can face significant fineswhich are imposed by the Federal Labor Defense Attorney's Office to encourage compliance with this standard.
Where to report non-payment of utilities?
PROFEDET offers free advice to the public through telephone numbers 01 800 71 72 942 and 01 800 911 78 77, in addition to providing support through email [email protected].
Likewise, in-person attention is available in its 48 branches distributed throughout the national territory.
You can also follow this organization and contact them through their social media platforms, on Twitter: @profedet, and on Facebook: PROFEDET.
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