Free calculator
Vacation calculator
The Labor Code grants 30 vacation days per 11 continuous months (1 day per 11 worked). Calculate accrued days and their value.
Result
Accrued vacation days—
Value per day—
Vacation value—
Legal basis: Art. 54 of the Labor Code — 30 days per 11 continuous months, at 1 day per 11 days worked. Variable salary uses the last 11 months' average. Reference only.
Frequently asked questions
How many vacation days am I entitled to per year in Panama?
For every 11 continuous months worked you accrue 30 vacation days, at roughly 1 day for every 11 days worked. After a full year you are entitled to the equivalent of one month's salary in vacation.
How is the value of vacation pay calculated?
Multiply the accrued days by the daily value, which is the monthly salary divided by 30. For variable salaries, the average of the last 11 months is used to determine that daily value.
Is vacation pay subject to Social Security and income tax?
Yes. Unlike the décimo, vacation is ordinary salary, so it is subject to CSS (9.75% employee), the educational tax (1.25%) and income tax per the annual table. This calculator shows the gross value before those deductions.
Does nominaHQ track my team's vacation balances?
Yes. nominaHQ automatically calculates accrual, balances and vacation payouts for your whole team. You can try it free for 30 days, up to 5 employees and with no card required.