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Practical Income Manual 2022.

F) Exempt compensation derived from the termination of the employment relationship due to death, retirement or disability of the employer or due to termination of the legal personality of the contracting party

Regulations: Art. 49.1.g) Workers' Statute

Compensation for these causes that does not exceed the amount equivalent to one month's salary is exempt.

In cases of termination of the legal personality of the contracting party, the procedures for collective dismissal of article 51 of the Workers' Statute must be followed.