Increase in Minimum Salary
Presidential Decree No. 2.243, dated February 19, 2016 was published in Official Gazette No. 40.852 of the same date. Through said Decree the national minimum salary was increased 20%. The increase will enter into effect as from March 1, 2016 and the minimum salary as from said date will be as follows:
a) Bs. 11,577.81 per month for workers of the private and public sectors.
b) Bs. 8,610.21 per month for adolescents and apprentices.
In order to access the Decree, please click here.
“NOTE: THIS INFORMATION SHOULD NOT BE CONSTRUED AS LEGAL ADVICE ON ANY SPECIFIC MATTER AND ITS CONTENT ARE INTENDED AS A MANAGEMENT ALERT AS TO CURRENT DEVELOPMENTS IN VENEZUELA, ANY SPECIFIC LEGAL QUESTIONS REGARDING THE POSSIBLE APPLICATION OF NEW OR PROPOSED LEGISLATION TO PARTICULAR SITUATIONS SHOULD BE ADDRESSED TO TRAVIESO EVANS ARRIA RENGEL & PAZ.”