Chile

Last Update by Marta, 22 Nov 2024

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Exchange Rate

15 Jan 2025

 

Cost of Living

Indicative value for a working adult in a city: Santiago

Publicly available data (Numbeo, etc..), verified by Marco’s in-country staff

Living Requirement Indicative Amount (CLP)
McDonalds Set Meal 8,000
Monthly Train and Bus Tickets 40,000
3 Bedrooms Rental (City Center) 893,856
3 Bedrooms Rental (Outskirt) 770,490

Current Inflation Rate

4.1%

Wage

Minimum Wages

  • As of July 1st 2024, 500.000 CLP per month

Median Salary

Estimated based on general positions such as HR, Accounting, Admin roles, in tier one cities.

Job Level Monthly Salary (CLP)
Entry-Level
Fresh Graduate
 635,000
Mid-Level
5 Years
 1,500,000
Experienced & Managerial Level
10 Years
 2,500,000
Specialized & Senior-Level
15 Years
 3,500,000+

Annual Salary Growth

8.1%

Statutory Contribution

Payroll contribution rates are calculated using Unidad de Fomento (UF), an inflation-indexed unit published by the Central Bank of Chile (BCCh) monthly, on June 25th this is 37,553.11 CLP

Country Level

Type Employer Rates Employee Rates Notes
Occupation Accident and Disease Insurance 0.90%
+ 0% - 3.4% - depending on work-related risk;
Monthly capping of 84.3 UF 		- All staff
Disability and Survival Insurance (SIS) 1.5% - All Staff
Unemployment Insurance 2.4% -Permanent contracts,
3% - Fixed Term contracts;
Monthly capping of 111.4 UF 		0.6% - Permanent contracts;
Monthly capping of 111.4 UF 		All staff
Pension Fund (AFP) - 10% All Staff up to age 60 for women and 65 for men
Private (ISAPRES) and Public (FONASA) Health Insurance - 7%
Monthly capping of 74.3 UF - AFP and 60 UF - IPS 		All Staff
Legal Gratification (Mandatory Annual Bonus) 30% net income divided by total amount of staff - Companies with profits provide staff with an annual bonus

Other Benefit

Other common employment benefits in Chile include:

  • Child Care: Staff with 20+ female staff of any age or marital status provide a room at work where women with 2 year-olds can provide food for their children

Income Tax

Residents

  • Tax period: 1st January - 31st December
    Filing Due Date: April
    Tax rate for monthly salaries based on UTM (Monthly tax unit in Chile, adjusted every month).

Country Level

Taxable Income Rate
0 - 899,478.00 0%
899,478.01 - 1,998,840.00 4%
1,998,840.01
- 3,331,400.00 		8%
3,331,400.01 - 4,663,960.00 13.5%
4,663,960.01 - 5,996,520.00 23%
5,996,520.01 -7,995,360.00 30.4%
7,995,360.01 - 20,654,680.00 35.5%
20,654,680.01 + 40%

Non-residents

  • 15% Flat rate on all taxable income

Working Hours

Statutory

44 hours
5 days a week

Typical practice

44 Hours
Monday - Friday

Overtime

Maximum 2 hours per day, 10 hours per week

  • 150% of hourly wage

Employment Contract

Fixed-Term

For piecework, seasonal activities, or projects

Contract Format

Written, in Spanish, bilingual Spanish and English contracts accepted. Contracts are sent to staff within 15 days of the employment start date

Payroll Currency

CLP, USD accepted

Probation

Not legally recognised

Contract Period

Up to 1 year and can be renewed once including renewals. Contracts lasting longer than 1 year are automatically converted to permanent.
Up to 2 years: For managers or staff with professional or technical skills and qualifications

Termination

The contract may be terminated by the employer, the employee or by mutual agreement

  Voluntary Resignation Involuntary Termination Economic Layoff
Notice Period - Probation - - -
Notice Period - Regular - No notice period - No notice period - No notice period
Severance Pay - - Salary paid till end of the contracts natural expiry date - Salary paid till end of the contracts natural expiry date

Public Holiday

15 days

Country Level

Date Name
01 Jan New Year's Day
01 May Labor Day
21 May Navy Day
29 Jun Saint Peter and Saint Paul
16 Jul Our Lady of Mount Carmel
15 Aug Assumption of Mary
18 Sep - 19 Sep National Day
12 Oct Columbus Day
31 Oct - 01 Nov Reformation Day
08 Dec Inmaculate Conception Day
25 Dec Christmas Day
31 Dec New Year's Eve

Leave

Leave Type Entitlement Notes
Annual Leave 15 working days
+ 1 day for every 3 years' service 		All staff including contractors with 1 years' service
Sick Leave No limitation - stated by medical certificate All staff registered for public or private health insurance
Maternity Leave 18 weeks
6 weeks before birth, 12 weeks after 		All expectant mothers
Paternity Leave 5 working days All biological expectant fathers
Adoption Leave 2 weeks- under 6 months old
6 weeks - over 6 months old 		All parents adopting children
Child Care Leave up to 30 days All parents with children terminally ill children under 18 years old
Bereavement Leave 10 days - Partner
7 days - Child
4 days - unborn child, parents, grandparents and close family 		All staff
Marriage Leave 5 continuous calendar days All staff getting married
Military Service Leave up to 30 calendar days Staff choosing to take part military training as reserve personnel

Reference

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