In the Official Gazette dated April 24, 2012 the Presidential Decree N° 8.920 of the same date was published. The Decree increases in 30% the national minimum salary for workers rendering services in the public and private sectors. The first part of the increase corresponding to 15% shall enter into effect as from May 1, 2012 and the second part of the increase corresponding to the remaining 15% shall enter into effect as from September 1, 2012, being the minimum salaries as of said dates the following:
As of May 1, 2012:
a) Bs. 1.780,45 per month for workers of both the private and public sectors.
b) Bs. 1.323,86 per month for apprentices and teenagers.
As of September 1, 2012:
a) Bs. 2.047,52 per month for workers of both the private and public sectors.
b) Bs. 1.522,43 per month for apprentices and teenagers.
To access the extract of the Official Gazette containing 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.”