Próspera has adopted a best-practices framework for labor law, which draws inspiration from leading jurisdictions as well as the Honduran national government’s labor laws. According to the Próspera Labor Statute, PZ’s labor regulations are as follows:
01. Próspera Labor Premium. Covered Employees must be paid at least 25% more than the Honduran national minimum wage for each industry. USD is the default currency of employee compensation in the region.
02. Próspera Labor Benefit Fund. Every employee will have a trust account called the Próspera Labor Benefit Fund, initially established by their first employer, which belongs to the employee and travels with them. Each employer for whom they work must contribute at least 10% of the gross compensation paid for work performed in Próspera to each qualifying Employee in the immediately preceding quarter, which the employee can use for retirement, healthcare needs, education needs, legal needs, emergency housing needs, or situations of emergency economic hardship.
03. Próspera Overtime Requirement. Covered Employees must be paid 125% overtime pay when the employees work in excess of 48 hours a week or 6 days a week.
04. Marketable Tax Credit Eligibility. Employers can apply for a grant of Marketable Tax Credits (MTCs) for the aggregate amount they paid towards the Próspera Labor Premium, Próspera Labor Benefit, and Próspera Overtime Requirement in any previous tax year when offerings of such MTCs are made.
05. Labor Unions. Employees are free to form labor unions and participate in strikes; but such freedom includes the responsibility to respect peace, order, and property rights.
06. Right to Work. Contracts which restrict employment opportunities to only associates of a Labor Union are presumptively unenforceable.
07. Exemptions. Immediate family members of the employer, natural persons in substantial ownership of the firm, interns, entry level hires (that is, people with no previous work experience in the industry), and small business hires (that is, people employed by firms with fewer than 10 full time employees or annual gross revenue less than $1,000,000).