Adjustment of Socialist Cestaticket
Decree No. 2.833, dated May 1, 2017, was published in Official Gazette of the Bolivarian Republic of Venezuela No. 6.296 Extraordinary, dated May 2, 2017 (the “Decree”). Said Decree adjusts the calculation base for payment of the Socialist Cestaticket (food bonus), for the workers who provide services at the public and private sectors, to fifteen Tax Units (15 T.U.) per day, at the rate of thirty (30) days per month. A maximum of four hundred and fifty Tax Units (450 T.U) per month may be received by the worker, without prejudice to the provisions of article 7 of the Decree with the Status, Value and Force of Law of Socialist Cestaticket.
Article 3 of the Decree establishes that the employers of the public and private sectors will pay each worker on account of Socialist Cestaticket, in cash or by payment in the payroll account, the amount to which article 1 of the Decree refers, indicating in a separate receipt the amount resulting from the worked days and indicating that it generates no impact on the salary and, therefore, no deductions from the same may be made, except for those expressly authorized by the worker for the acquisition of goods and services in the frame of the programs and social missions for the satisfaction of the worker’s needs.
Article 5 of the Decree provides that the work entities of the public and private sectors that keep operating the benefit established in article 4, numbers 1 through 4 of the Decree with the Status, Value and Force of Law of Socialist Cestaticket for Workers must, in addition and on a temporary basis, grant said benefit in cash or through a deposit in the payroll account, according to article 3 of the Decree.
A period of thirty (30) days following the publication of the Decree is allowed for the work entities to adapt the payroll systems in order to proceed to pay the Socialist Cestaticket to the workers in cash, as prescribed in article 6 of the Decree.
Article 7 of the Decree prescribes that the food coupons, tickets, and electronic cards already issued will continue to be valid in order to be used at the establishments specialized in administration and management of labor benefits, up to December 31, 2017.
Also, the companies that provide food coupons, tickets, and electronic cards must guarantee the use of said instruments at the establishments intended for such purpose.
The Decree will become effective on May 1, 2017.
In order to access the Decree, please click here.
“NOTE: THIS INFORMATION SHOULD NOT BE CONSTRUED AS LEGAL ADVICE ON ANY SPECIFIC MATTER AND ITS CONTENT ARE INTENDED AS A MANAGEMENT ALERT AS TO CURRENT DEVELOPMENTS IN VENEZUELA, ANY SPECIFIC LEGAL QUESTIONS REGARDING THE POSSIBLE APPLICATION OF NEW OR PROPOSED LEGISLATION TO PARTICULAR SITUATIONS SHOULD BE ADDRESSED TO TRAVIESO EVANS ARRIA RENGEL & PAZ.”