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Increase of Minimum Salary

Presidential Decree No. 1,599 was published in Official Gazette No. 40,597 of February 6, 2015 (the “Decree”). Through said Decree, the minimum salary was increased by 15%. According to the Decree, said increase became effective on February 1, 2015. As from said date, the minimum salary is as follows:

 

a) Bs. 5,622.48 per month for urban workers of the private and public sectors.

b) Bs 4,181.34 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.”