Minimum Salary Increase
Presidential Decree No. 30 of April 30, 2013 was published in Official Gazette No. 41.157 of April 30, 2013. The Decree establishes a 30% increase in the minimum salary, with the possibility of reaching a 40% increase, depending on the behavior of the National Consumer Price Index. The first portion of the increase, 20%, will become effective on May 1, 2013; the second portion, 10%, will become effective on September 1, 2013 and, finally, the rest of the increase, ranging between 5% and 10%, will become effective on November 1 of the current year. After said dates, the minimum salary will be established as follows:
After May 1, 2013:
a) Two Thousand Four Hundred and Fifty-seven Bolivars with Two Cents (Bs. 2,457.02) per month, for urban workers of the private and public sectors.
b) One Thousand Eight Hundred and Twenty-six Bolivars with Ninety-one Cents (Bs. 1,826.91) per month for adolescents and apprentices.
After September 1, 2013:
a) Two Thousand Seven Hundred and Two Bolivars with Seventy-three Cents (Bs. 2,702.73) per month for urban workers of the private and public sectors.
b) Two Thousand and Nine Bolivars with Sixty Cents (Bs. 2,009.60) per month for adolescents and apprentices.
After November 1, 2013, there will be an increase of the minimum salary ranging between 5% and 10%, taking the National Consumer Price Index as a reference.
In order to access the Decree, please click http://www.traviesoevans.com/memos/2013-04-30-40157-1.pdf
“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.”