What is Cesantías?
Cesantías equal one month of salary per year worked. The employer deposits them before February 14 in the cesantías fund chosen by the worker.
They can be withdrawn when the contract ends, or earlier for housing or education. In addition, the employer pays interest on the cesantías of 12% a year.
In practice
For a year at a salary of $2,000,000, the employer deposits $2,000,000 of cesantías in the fund, plus $240,000 of interest (12%).