Initially the unemployment insurance or unemployment insurance is an insurance that provides economic benefits for a specified period of time to independent workers. In itself it is an insurance that protects these workers governed by the labor code at the time they are laid off.
It should also be noted that those who must have this mandatory unemployment insurance are all workers with a regulated contract by the labor code. It does not matter if it is indefinite, fixed term, or for service. It is important to note that the signature must be after October 2, 2002 to be able to enjoy said insurance.
Be sure does not include private domestic workers, minors under 18 years of age, pensioners, apprenticeship contract or independent workers. However, if the pension is granted for partial disability if they can opt for this unemployment insurance.
Unemployment insurance: Find out what it is and how it works
It should also be noted that the mandatory unemployment insurance works because each worker has an individual account to which he and his employer must contribute a percentage of their remuneration on a monthly basis.
So when the worker is unemployed, he can choose to withdraw the accumulated resources in his individual unemployment account. They can also resort to “solidarity fund” only if necessary, it will be constituted with contributions from the employers themselves and the state.
Jointly, it must be considered that unemployment insurance is funded by the worker, employer and state, it can be considered to be a tripartite contribution. Likewise, the monthly price will depend on the type of contract.
It should be added that the contribution by the worker with a permanent contract will be 0.6%. In addition, the worker will not have to make specific contributions if he has a fixed-term or work contract.
Next, the employer’s contribution consists of 2.4% of the taxable wages of the worker himself with an indefinite contract. So of said contribution, only 1.6% is paid to the individual account and the remaining balance of 0.8% enters the pay-as-you-go fund which is called “solidarity unemployment fund”.
It should be noted that the employer’s 1.6% contribution is deductible from the severance pay for years of service when the worker has an indefinite contract and when he is fired without any justification just for “business need”.
In addition, workers who have a fixed-term or work contract will have a 3% contribution from the employer. Likewise, the state contribution consists of 225,792 monthly tax units.
Important information about Unemployment insurance
Among the benefits that unemployment insurance provides are the Health, (depending on the fund for which the worker charges). In addition, through the National Employment Exchange and training scholarships there is a family allowance and support for labor reintegration.
It is important to mention that the worker can collect the unemployment insurance depending on your balance; since you can make monthly withdrawals from your account as your balance allows.
It is also highlighted that there is a monetary cap for the payment of unemployment insurance, the cap is established depending on the income of the worker. They range from a $ 525,000 maximum in the first months and then for the subsequent months of $ 78,750.
Together it can be noted that the fund of “solidary unemployment” It is financed with the fraction of the contribution made by the employer (0.8%). This applies only to indefinite contracts together with contributions from the State defined by law.
Similarly, its purpose is to finance the minimum benefits for members who do not have sufficient resources in their individual account at the time of being unemployed.
Finally, we hope this article has helped you. However, we would like to know your opinion. Have you ever been able to receive Unemployment Insurance? Do you know the process to receive Unemployment Insurance? Leave us your answers in the comments.
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