Severance Pay Calculator

Under Venezuela's LOTTT (Ley Orgánica del Trabajo), severance (Prestaciones Sociales) is calculated as 30 days of salary per year of service (antigüedad), paid into a trust fund (fideicomiso) or the company's books. In case of unjust dismissal (despido injustificado), an additional indemnity of 60 days of integral salary (salario integral) per year applies. Use our calculator above — select 🇻🇪 Venezuela and enter your dates and salary to get an instant estimate.

In Mexico under the Ley Federal del Trabajo (LFT), the finiquito includes: proporción de aguinaldo (15 days/year), vacaciones proporcionales (6 days minimum for 1st year), and prima vacacional (25%). For unjust dismissal (despido injustificado), the liquidación adds: 3 months' salary + 20 days per year of service + 12 days per year as prima de antigüedad.

In Colombia under the Código Sustantivo del Trabajo, the final liquidación includes: Cesantías (1 month's salary per year), Intereses sobre cesantías (12% annual interest on cesantías), Prima de Servicios (15 days' salary per semester), and Vacaciones (15 days per year). For unjust dismissal, indemnification adds 30 days for the first year + 20 days per additional year (for workers earning up to 10 minimum wages).

These are different terms for similar concepts across Latin America: Liquidación (Venezuela, Colombia, Ecuador) is the full final settlement including all earned benefits. Finiquito (México, Chile) refers specifically to the settlement of remaining wages, vacation, and bonuses upon departure — often distinct from the additional indemnización owed in unjust dismissal. Indemnización (Argentina, Perú) focuses on the compensatory payment for dismissal without just cause. Cesantías (Colombia) is a specific savings fund — one month's salary deposited annually.

This calculator uses standard statutory minimums for each country's labor code. It is a reliable estimate for most standard employment contracts. However, your actual liquidación may be higher due to: collective bargaining agreements (convenciones colectivas), sector-specific bonuses, inflation adjustments (Venezuela's salario integral), seniority bonuses, or court-ordered settlements. Always verify your calculation with a certified abogado laboralista (labor attorney) before signing any settlement.

100% free, no signup required. Whether you are calculating a liquidación en Venezuela, a finiquito en México, cesantías en Colombia, or indemnización en Argentina, this tool works entirely in your browser. No data is sent to any server.