What is a Finiquito in Guatemala?
A finiquito is the settlement document and payment an employee receives when their employment relationship ends. It includes all pending labor benefits under the Guatemala Labor Code (Decree 1441).
The Guatemala settlement calculator is the complete tool: pick dismissal, resignation, or mutual agreement and it adds every item, including prior notice and pending salaries. Use this finiquito page to review the closing document item by item.
What Does the Finiquito Include?
1. Severance Pay (unjustified termination only)
- 1 month's salary per year worked (proportional for fractions)
- Only applies when the employer dismisses without just cause (Art. 82)
- Does not apply for voluntary resignation
2. Proportional Aguinaldo (Christmas Bonus)
- Period: December 1 to November 30
- Equals 1 month's salary for a full year
- Calculated proportionally for days worked in the period
3. Proportional Bono 14 (14th Month Bonus)
- Period: July 1 to June 30
- Equals 1 month's salary for a full year
- Calculated proportionally for days worked in the period
4. Unused Vacation Days
- 15 working days of vacation per year worked
- Pending days are paid at the daily salary rate
5. Pending Salaries
- Any worked days unpaid up to the termination date
When Does Severance NOT Apply?
Severance pay is not owed when:
- The employee resigns voluntarily
- Termination is for just cause (Art. 77 of the Labor Code)
- The employee abandons the position
Formulas
Estimated severance = Monthly salary × (Days worked ÷ 365)
Severance applies when the termination gives the right to it (unjustified or indirect dismissal). If you are calculating a resignation, disable the severance option so the result is not inflated.
Proportional aguinaldo = Monthly salary ÷ 365 × days worked in the Dec 1–Nov 30 period
Proportional Bono 14 = Monthly salary ÷ 365 × days worked in the Jul 1–Jun 30 period
Daily salary = Monthly salary ÷ 30
Unused vacation = Daily salary × pending vacation days
Worked example: unjustified dismissal at Q5,000
Assume a monthly salary of Q5,000, start date January 1, 2023, end date June 30, 2025, severance included, and 10 pending vacation days.
| Item | Reference calculation | Estimated amount | |---|---|---| | Severance | Q5,000 × 911 days ÷ 365 | Q12,479.45 | | Proportional aguinaldo | Q5,000 ÷ 365 × 211 days | Q2,890.41 | | Proportional Bono 14 | Q5,000 ÷ 365 × 364 days | Q4,986.30 | | Unused vacation | Q166.67 × 10 days | Q1,666.67 | | Estimated total | Sum of items | Q22,022.83 |
If the same case were a voluntary resignation, the Q12,479.45 severance would not be included. Selecting the correct termination type before reading the total matters.
Termination comparison
| Termination type | Severance | Proportional aguinaldo / bono 14 | Unused vacation | Practical notes | |---|---|---|---|---| | Voluntary resignation | Usually no | Yes | Yes | Hand in the letter and keep a received copy. | | Unjustified dismissal | Yes | Yes | Yes | Check the severance option in the calculator. | | Justified dismissal | Usually no | Yes | Yes | Review the cause and the documentation. | | Mutual agreement | Depends on the agreement | Yes | Yes | Read the agreement before signing. | | Indirect dismissal | May apply | Yes | Yes | Must be documented and claimed properly. |
This tool is an educational estimate of the general model. It does not cover every special case: variable salaries, commissions, suspensions, discounts, garnishments, written agreements, or legal disputes. Confirm the final figures with HR, an accountant, the Ministry of Labor, or a labor advisor before signing anything.
Legal Deadlines
The employer must pay the finiquito immediately upon termination. In practice, the Ministry of Labor recommends a maximum of 20 days.
Related Guatemala calculators
- Guatemala Liquidación Calculator: compare full settlement, finiquito, and severance.
- Severance Pay Calculator: estimate only the severance component.
- Guatemala Aguinaldo Calculator: check the proportional Christmas bonus.
- Guatemala Bono 14 Calculator: calculate the full or proportional 14th-month bonus.
- Guatemala Vacation Pay Calculator: estimate pending vacation days and pay.
- Guatemala Net Salary Calculator: see take-home pay after IGSS and ISR.
FAQ
It includes the payments due when the employment relationship ends: severance if applicable, proportional aguinaldo, proportional Bono 14, unused vacation, and any pending salary or adjustments.
Yes. With a resignation there is normally no severance pay, but proportional aguinaldo, proportional Bono 14, pending vacation, and unpaid worked days should still be reviewed and paid.
The practical estimate is one monthly salary per year worked, proportional for fractions: monthly salary × days worked ÷ 365. It should only be included when the termination gives the right to severance (Art. 82).
In everyday use many people treat them as synonyms. The finiquito usually refers to the closing document, while the liquidación refers to the economic breakdown of the amounts paid.
Ask for a written breakdown first and keep the evidence. If there is no answer or the amount looks wrong, seek guidance from the Ministry of Labor, the Labor Inspection Office, or a labor advisor.