Peru is a country in South America bordered by Ecuador, Colombia, Brazil, Bolivia, and Chile. Peru is considered a megadiverse country with habitats that range from arid plains, to the peaks of the Andes mountains, and the tropical Amazon basin rainforest. The country has a high level of human development and an upper middle income level, and has one of the world's fastest industrial growth rates.
The minimum wage in Peru is PEN 1,025 per month, and a standard workweek is 48 hours at 8 hours per day (for 6 days). Overtime work and compensation is regulated by the employment contract or collective agreement.
Pregnant employees are entitled to 98 days of paid maternity leave, which is normally split equally before and after the birth. This leave is paid for by the National Health System. Fathers/partners are entitled to 10 days of paid paternity leave after their child is born. Employees can also take adoption leave.
Employees can take up to 365 days of paid sick leave. The employer pays the first 20 days of leave and the rest is paid by social security.
Peru has 12 public holidays, and employees are entitled to 30 days of paid time off each year.
The termination process in Peru varies based on the employment contract and reason for termination. The employer must provide written notice with the reasons for termination so the employee has a chance to respond or prove their capability to work at the company.
Employees should receive at least 6 days of notice for terminations.
If an employee is terminated without cause are usually entitled to a severance payment of up to 12 months of salary.
It is mandatory for employers to give their workers 13th-month and 14th-month salary bonuses every year. One is paid in July and the other is paid in December, each one is equal to 1 month of wages.
★ 9% - National Health System
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It can be prohibitively expensive to establish an entity in every country you want to hire talent in, so Remofirst will hire and pay your employee on your behalf while you manage their daily duties. Remofirst will handle formal HR procedures and employment contracts that adhere to local laws, so that you can simply approve invoices via our platform. When you work with an Employer of Record (EOR) you can compliantly hire the best employees around the world.
Unlike full-time employees, contractors work on projects with multiple companies at a given time and are technically self-employed. Full-time employees are solely focused on their employer and usually receive benefits (such as health insurance, equity or stock options, and time off) as an additional form of compensation. While it can be cheaper to work with international contractors instead of paying benefits to a full-time employee, you run the risk of misclassification. It's recommended to work with an EOR for contractor onboarding and payments, so you can know that your international contractors are paid compliantly and on time.
