As the holiday season approaches, employers in Puerto Rico must remain vigilant in complying with the statutory requirements governing the annual Christmas Bonus. This obligation, codified under Act No. 148 of June 30, 1969, is not discretionary. It is a legal mandate designed to safeguard employee rights and ensure equitable treatment across the workforce.
Puerto Rico’s Act 60: Income Sourcing Rules and IRS Enforcement
Puerto Rico’s Act 60, known as the Tax Incentives Code, has attracted significant attention from entrepreneurs, investors, and cryptocurrency traders seeking favorable tax treatment. The statute provides substantial benefits for bona fide residents of Puerto Rico, but recent enforcement actions underscore the importance of adhering strictly to U.S. Internal Revenue Code (IRC) sourcing rules.
UPDATE: THE U.S. DEPARTMENT OF LABOR PUBLISHED A PROPOSED RULE IN THE FEDERAL REGISTER THAT SIGNIFICANTLY RAISES THE FLSA MINIMUM SALARY THRESHOLDS FOR EXEMPT EMPLOYEES
The proposed rulemaking to revise 29 CFR Part 541’s interpretation of the salary thresholds applicable to the Fair Labor Standards Act’s exemptions from the minimum wage and overtime pay requirements for executive, administrative, and professional employees was published in the Federal Register on September 8th, 2023.
THE U.S. DOL PROPOSES SIGNIFICANT INCREASES TO THE FLSA MINIMUM SALARY FOR EXEMPT EMPLOYEES
The DOL proposes to raise the minimum salary and compensation for exempt employees under the FLSA. Learn how this affects employers in Puerto Rico and other U.S. territories.
Employers beware: A new Puerto Rico law gives employees the right to request modifications and a reduced work schedule if they register as Informal Caregivers.
A new Puerto Rico law gives employees the right to request modifications and a reduced work schedule if they register as Informal Caregivers.
Puerto Rico Workers’ Compensation offers a special one-time fixed 5% discount on premiums for workplaces that are safe and accident-free for two years in a row
The workers’ compensation yearly experience review was changed on August 8th, 2023, by Act No. 85-2023, effective immediately, to offer an additional one-time fixed 5% special discount on premiums for establishments without occupational accidents for two years in a row. Experience-based discounts have historically been set by the Corporación del Fondo del Seguro del Estado in accordance with regulations and not specific legislative mandates.
We Know What the New I-9 Form Looks Like and How It May Affect Your Future!
On Aug. 1, 2023, the U.S. Citizenship and Immigration Services published a revised version of Form I-9, Employment Eligibility Verification. Among the changes to the form is the addition of a checkbox that E-Verify-enrolled employers can use to indicate that they remotely examined identity and employment authorization documents using a DHS-approved alternative procedure. … Read more »
Puerto Rico slashes workers’ comp premiums by half for most employers, effective July 1st, 2023, and proposes doubling weekly allowances and instituting cost-of-living adjustments for all injured workers’ benefits.
On June 21, 2023, the Governor of Puerto Rico, Hon. Pedro Pierluisi Urrutia together with the Administrator of the State Insurance Fund Corporation, Jesús M. Rodríguez Rosa, announced dramatic measures and proposals for the next legislative session. The Governor announced a historic 50% reduction in workers’ compensation premiums for most employers, effective July 1st, 2023, as well as a legislative bill to increase weekly allowances by 100% and make cost-of-living adjustments for injured workers.
What You Need to Know About the Minimum Wage Increase in Puerto Rico on July 1st, 2023
On July 1, 2023, the minimum wage of all non-exempt employees in Puerto Rico, as defined by Puerto Rico Act No. 47-2021 and who are covered by the Fair Labor Standards Act, will increase from $8.50 per hour to $9.50 per hour. Background of the Puerto Rico Minimum Wage On September 21, 2021, the Puerto… Read more »
2022 Puerto Rico Labor Reform Is Dead, Backfires and Caused a Huge Legal Mess!
The Labor Reform adopted by Puerto Rico in Act No. 21 of 2022 was enjoined and declared null ab initio. On March 3, 2023, the USDC Judge Laura Taylor Swain in charge of the Commonwealth of Puerto Rico PROMESA proceedings declared null and void ab initio the amendments to the labor reform adopted by Puerto… Read more »
