Profit sharing or PTU payment as it is colloquially known is a right that all workers have with the following exceptions:

  • The directors, administrators and general managers.
  • Partners and shareholders.
  • Temporary workers who have worked less than 60 days a year to which the profit payment year corresponds.
  • Consultants, professionals, technicians and others who provide their services on a fee basis without a subordinate working relationship.
  • Domestic workers.

Workers are entitled to receive at least 10% of the company’s profits earned in the previous year. It is also important to know that the employers are responsible for making and presenting the annual declaration where the payment of the participation of the workers in the profits is contemplated.

The deadline for the payment of PTU is May 30, 2020 for companies and June 28, 2020 for individuals.

Employees who have worked in fiscal year 2019 and who are no longer active employees are entitled to profit sharing; if they do not appear to collect it, the employer must keep the profit sharing payment for a period of one year as from the day after the obligation to pay the profit sharing was incurred.

Applicable legislation LFT article 117 to 131, LISR article 9.

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