Salary and its Impact on IMSS Social Security Benefits
The base salary for contributions is a crucial element in determining the benefits of the Mexican Social Security Institute (IMSS). This not only defines the amount of the employer-employee contributions, but also directly impacts the benefits that affiliated workers receive.
From the calculation of disabilities to the amount of pensions and other economic benefits, the correct recording of the salary is key to guarantee that workers have access to their social security rights. The proper integration of the base salary for contributions avoids inconsistencies and possible harm to the insured, since any omission or under-declaration could negatively affect the amounts of the benefits.
With the recent evolution of the social security system, it is essential that companies and workers understand the importance of correctly declaring their salary, thus ensuring full access to the benefits granted by the IMSS.
Source: Public Accounting Magazine