Severance Pay

Article 49.2 of the Workers' Statute states that at the end of the employment relationship, the employer must submit a proposal for settlement of the amounts owed, known as settlement.

 

The settlement is a legal and binding labor document used to terminate a professional relationship between an employee and the company, whatever the reason.

 

The settlement is what the company has left to pay the employee for the year. The settlement document must contain the amounts owed and the date it is signed by the worker.