FAQs Venezuela
Frequently asked questions about Payroll and HR services, PEO, HR outsourcing/EOR and compliance services in Venezuela.
Important Note: Labor and tax regulations change frequently. Before making decisions, validate percentages and rules in force with official sources or local compliance teams.
How does payroll work in Venezuela?
– Frequency: monthly or bi-weekly.
– Bonuses and meal vouchers regulated; frequent adjustments due to inflation.
– Vacations and year-end bonus (utilidades) as per LOTTT.
– Digital payslips widely used; hires/terminations reported via AFIP.
How much is the hiring cost in Venezuela?
– Registration with IVSS, INCES, BANAVIH.
– Market benefits: transport, food, insurance (highly valued).
Employer social security taxes
– Employer contributions to IVSS (social security), Employment Regime Fund, INCES
(training), BANAVIH (housing), and occupational risk policies; subject to frequent
adjustments.
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