Colombia to extend the payroll subsidy until March 2021

The Formal Employment Support Program (PAEF) provides relief to companies impacted by COVID19 economic by paying 40% of a minimum wage (equivalent to $ 90) for each worker (regardless of salary) of any company that has seen its income reduced by more than 20% due to the pandemic. The benefit will increase to 50% for employed women, which are the most affected by the loss of employment, and for companies in hard-hit sectors in hospitality. PAEF will also contribute with 50% of the payment of the end of year service premiums for employees who earn up to $258 in December 2020.

Source: El Espectador