Mexico's president sees faster return to pre-pandemic economy
With a population of almost 130 million, Mexico is among the 15 largest economies in the world and the second largest economy in Latin America. The country has strong macroeconomic institutions and is open to trade. The World Bank says that Mexico’s economy contracted by 8.2 percent in 2020 as the COVID-19 pandemic had deep impacts on firms, employment, and households. The recovery in 2021 will rely on vaccinations increase, US growth dynamics, and private investment. Deloitte considers that the Mexican economy is poised to grow at an estimated clip of 5% in 2021, powered primarily by exports. While the growth will be substantial, it will take some time for Mexico’s output to return to pre-pandemic levels. Mexico was ranking #60 in the World Bank’s 2020 Ease of Doing Business index (Sources: Reuters, World Bank and Deloitte).
A trusted professional employment organization with in-depth knowledge of the Mexican market, XML International provides you with end-to-end personalised solutions to recruit and manage remote team members for your activities in Mexico City or any other city in Mexico, regardless of the size of your organisation or your industry.
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Mexican Peso MXN
There is no universal minimum wage in Finland. In most branches the collective agreement determines the pay and other employment terms.
Working hours in Mexico are not regulated by law and thus depend on your job and the company you are working for.
In Mexico, the Federal Labor Law establishes that the current work week is eight hours a day, six days a week. That is, 48 hours a week.
When a worker is temporarily unable to work, due to suffering a condition derived from an accident or illness, or during the periods before and after childbirth in the case of insured workers, the IMSS doctor will issue a certificate of disability in order to justify his absence from work during the days required for his recovery.
Occupational risk: 100% of the salary registered in the IMSS at the beginning of the disability
Weeks quoted: 4 weeks immediately prior to the onset of the illness. Casual workers it will be 6 weeks on the 4 months prior to the onset of the illness.
Payment percentage: 60% of the salary registered in the IMSS at the beginning of the illness
Payment limit: From the 4th day until the end of the 52 weeks, as determined by the medical services of the medical services of the IMSS, it may be extended for up to 26 more weeks.
Weeks quoted: 30 weeks in the 12 months prior to the 34th week of gestation. When the insured does not comply with this requirement, the employer will be respnsible for paying the full salary for the duration of the disability period.
Payment limit: In the single certificate of the maternity disability, up to 84 days. In liabilities due to liaison, up to 21 days.
Paternity leave, effects before the IMSS It is not a disability, but a benefit included in the reforms to the LFT Since December 1, 2012 all those male workers who become fathers, either due to the birth of a child or for the adoption of a minor, they must enjoy a paternity leave of five working days with pay.
Notice period will depend according to what has been described in the employment contract.
There is no obligation under the law for either employers or employees to notify the other party in advance of a dismissal or resignation.
The standard VAT rate is 16%.
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XML International, one of the best workforce solutions and employer of record services providers for Mexico, supports the set-up and the management of your international workforce for all your activities in Mexico. Our invaluable input consists of streamlining and handling for you the complete employment lifecycle of your teams. We give you all the keys to handle you staff in Mexico City or any city in Mexico. XML’s knowledge of Mexican labour laws, tax and social security system, and employment regulations allows you to tackle the challenges of local compliance in Mexico, navigate all the local complexities and avoid pitfalls.
Among our top priorities, compliance with Mexican employment regulations and labour laws is number one. In addition to talent acquisition, recruitment services, and workforce management, we also ensure that our clients’ workforce management in Mexico is aligned with Mexican tax and social security rules and the latest immigration processes, including visas and work permits.
Here is the list of our core services supporting your activities in Mexico.
Take advantage of the targeted outsourcing solutions proposed by XML International for your expansion into Mexico or for your employees already based there. We offer a comprehensive series of bespoke and scalable outsourcing solutions specially designed for the Mexican market.
They range from professional employer organization employment (PEO), employer of record, and contingent workforce employment services, to help you grow effortlessly and successfully in Mexico without any complications. We can also help you source, recruit, and onboard new team members locally, even if you don’t have an office in Mexico.
XML provides you with everything you need to start doing business in Mexico or to optimize your business if you are already operating there, leading to significant bottom-line savings and getting your business activities up and running in just days. Get in touch with the XML team to learn how we can boost your activities in Mexico in a cost-effective way.
Get started now and make the most of business in Mexico today!
XML has expertise and resources to meet your organization’s workforce needs wherever, and in whichever field these might be.