When you sell your home, you will need to severe the employment of all your staff (maid, gardener, etc.). They can then be recommended and re-hired by the new home owner. You need to calculate each employee’s severance or finiquito, which includes severance days owed, vacation pay and Christmas bonus or Aguinaldo.
We highly recommend keeping receipts of all yearly vacation pay and Christmas bonus (including gifts), signed by your staff member, as you may be held accountable for past years at the time of severance.
Download the spreadsheet and input 6 pieces of information into the blue boxes. The rest is auto-calculated for you! If you have any questions, please call us for more clarification.
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Disclaimer: You must not rely on the information in the report as an alternative to legal or accountancy advice from an appropriately qualified professional. If you have any specific questions about any legal or accountancy matters, you should consult an appropriately qualified professional. If you choose to use this spreadsheet, we will not be held liable in respect of any special, indirect or consequential loss or miscalculation.