Employer of Record in Bolivia
General Information
- Currency: Boliviano (BOB)
- Employer Taxes: Unknown
- Payroll Frequency: Monthly
- Employee Costs: 12.71%
- Capital: Sucre
- Fiscal Year: 1 January – 31 December
Main Aspects of the Labour Code
Minimum Wage
General: The monthly minimum wage in Bolivia is 2,250 BOB.
Payroll
Payroll Cycle: Salaries are paid monthly on the last working day of the month.
13th Salary
A 13th-month salary, also known as Aguinaldo, is mandatory at the end of the year and equals one month’s pay. This Christmas bonus is exempt from tax and social security contributions. Additionally, a 14th-month bonus is required if the company’s GDP exceeds 4.50% growth or it achieves annual profits. All employees must receive this extra monthly salary, capped at 25.00% of the company’s profits, known as the Profit Bonus (Prima).
Working Hours
General: In Bolivia, the standard working hours are 8 hours per day, with a maximum of 6 working days per week.
Overtime: Any work beyond the standard weekly hours is classified as overtime and is governed by employment contracts or collective agreements. Typically, the maximum allowable overtime is 2 hours per day, and it is paid at a rate of 200.00% of the standard salary rate.
Leave
Annual Leave (Vacation):
In Bolivia, paid leave is stipulated in the employment contract and starts at a minimum of 15 days per year, granted after one year of service, in addition to public holidays. This amount increases to 20 days after five years of employment and further to 30 days after ten years of service.
Public Holidays
There are 10 public holidays.
Public Holidays
| Date | Day | Holiday |
| 01 Jan 24 | Monday | New Year’s Day |
| 22 Jan 24 | Monday | Plurinational State Day |
| 12 Feb 24 | Monday | Carnival |
| 13 Feb 24 | Tuesday | Carnival |
| 29 Mar 24 | Friday | Good Friday |
| 01 May 24 | Wednesday | Labour Day |
| 30 May 24 | Thursday | Corpus Christi |
| 21 Jun 24 | Friday | Aymara New Year |
| 06 Aug 24 | Tuesday | National Day |
| 02 Nov 24 | Saturday | All Souls’ Day |
| 25 Dec 24 | Wednesday | Christmas Day |
Sick Days
Employees are entitled to up to 26 weeks of paid sick leave per year and must submit a medical certificate within 48 hours of the first day of illness. Sick pay is provided at 100.00% of the regular salary rate starting from the 5th day of sickness, with 75.00% of this amount reimbursed by social security.
Maternity Leave
All female employees are entitled to maternity benefits, which include 90 days of paid maternity leave—45 days before the due date and 45 days after. The employer will pay the maternity benefit at 100.00% of the national minimum wage, and will receive a reimbursement of 90.00% from social security.
Paternity Leave
The father is entitled to mandatory paid paternity leave of 3 days.
Parental Leave
There are no provisions in the law regarding parental leave.
Other Leave
There is no other statutory leave in Bolivia.
Taxation
Employer Payroll Contributions
|
2.00%
|
Housing
|
|
1.71%
|
Professional Risk Premium
|
|
10.00%
|
National Healthcare
|
|
3.00%
|
Employer Solidarity Contribution
|
| 6.71% |
Total Employment Cost |
Employer Payroll Contributions
|
10.00%
|
Long-term SSO Contribution (Disability, Old Age and Death)
|
|
1.71%
|
Common Risk
|
|
0.50%
|
Pensionary Fund Commission
|
|
0.50%
|
Solidarity Contribution for Pension
|
| 12.71% |
Total Employee Cost |
Employee Income Tax
|
13.00%
|
Flat Rate |
Employer of Record in Bolivia with Brain Source International
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- Employee Benefits: The company ensures that employees receive the mandatory benefits such as paid leave, sick leave, maternity leave, and other statutory entitlements.
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By partnering with Brain Source International as your Employer of Record in Belize, you can navigate the complexities of local employment laws efficiently while focusing on your business expansion goals.