Severance Fund Calculator (Cesantías)
Annual severance (cesantías) and 12% interest.
Deposited in the fund before February 14
Paid to the employee before January 31
- Calculation baseIncludes transport allowance
- $ 2.000.000
- Days settled
- 360
- Total
- $ 2.240.000
Calculate theseverance pay (cesantías)and theinterest on severancefor a year or part of a year in Colombia. Severance equals one month of salary per year worked, and the interest is12% per yearon that amount.
Key dates: the interest is paid directly to the employee no later than January 31, and the severance is deposited in the fund no later than February 14 of the following year. If the employee earns up to 2 minimum wages, the transport allowance ($ 249.095) is added to the base.
When to use this tool
- In January, to pay the interest before January 31.
- In February, to deposit severance into the fund before February 14.
- When settling a worker who leaves mid-year.
- To accrue employee benefits monthly.
How to calculate severance pay (cesantías)
- 1Enter the monthly salary (if it varies, the average for the period).
- 2Check whether the employee receives the transport allowance.
- 3Enter the period dates: usually January 1 to December 31, or from the hire date.
- 4Check the severance, the interest and the total.
Meanwhile, keep track of what comes in
January and February concentrate interest and severance payments. Katuq shows you sales by channel, receivables by customer and inventory by warehouse on one dashboard, so you reach those dates with a clear view of your cash.