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El Salvador: Christmas bonus based on years of service; Guatemala: paid at mid-year. A mandatory 14th-month bonus is paid at the end of the year; both are equal to one month's salary. Honduras: paid in December. A mandatory 14th-month bonus is paid in July; both equal one month's salary. Nicaragua: one month's salary, paid by 10 December Dec 29, 2011 · At the turn of the 20th century, U.S. employers began substituting the traditional 19th century Christmas offerings to employees — turkeys, watches, candy or gold coins — with a cash bonus. Dec 12, 2023 · The practice of giving Christmas bonuses grew significantly during the 20th century, particularly in the post-World War II era. This period was marked by economic growth, the rise of unions, and a focus on employee rights and benefits. Companies began to institutionalize the Christmas bonus, making it a regular part of employee compensation ... Nov 21, 2016 · Around the turn of the 20th century, the Christmas holiday represented much needed time off for factory workers, who regularly worked six days a week, 11 hours a day. Another perk of the season was the highly anticipated Christmas bonus, the extra wage or gift meant to encourage productivity and, for employers, assure loyalty. Christmas Bonus - Taxes and Social Contributions. Since the abolition of the Christmas bonus allowance with the implementation of the Tax Reform Act of July 25, 1988, the Christmas bonus is no longer tax-free. From a tax perspective, it is considered another income under § 39b (3) of the Income Tax Act (EStG). This Christmas gift from employer to employee may have been inspired by English Boxing Day customs. Although the Christmas bonus began as a voluntary gift, it evolved into an expected increase in one's December salary. By the late nineteenth century many American employers had adopted the custom of distributing Christmas bonuses among their ... Oct 2, 2020 · “The £10 Christmas bonus was introduced in 1972, at a time when unemployment exceeded one million people for the first time in [40] years. Sound familiar?” says Varun Kanish, campaigns ... Feb 2, 2009 · By the 1950s, the Christmas bonus officially lost its status as a gift: when a firm announced a reduction in its annual Christmas bonus as a way to make up for the expense of introducing a costly new retirement plan, the union tried to negotiate the employees’ holiday bonus. Dec 21, 2023 · The bonus would be worth about £163 today if it had risen in line with inflation. The scheme rose temporarily after the financial crash of 2008, when the UK government increased the amount to £70.

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