Presidential Decree No. 503 of October 15, 2013 was published in Official Gazette No. 40.275 of October 18, 2013. Said Decree establishes a 10% increase in the salary as from November 1, 2013. Said increase was established in agreement with Presidential Decree No. 30 of April 30, 2013, published in Official Gazette No. 40.157 of April 30, 2013, whereby a minimum salary increase was established to be applied in year 2013, payable in three portions, the last of them ranging between 5% and 10% depending on the behavior of the National Consumer Price Index (CPI), and effective as from November 1 of this year. The salary is established as follows:
After November 1, 2013:
a) Bs. 2.973,00 per month for urban workers of the private and public sectors.
b) Bs. 2.211,00 per month for adolescents and apprentices.
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“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.”