INCREASE OF MINIMUM SALARY / ADJUSTMENT OF SOCIALIST CESTATICKET

Decree No. 4.602 of May 1, 2021, issued by the Presidency of the Republic, was published in Official Gazette No. 6.622 Extraordinary of the same date (the “Decree”). The Decree increased the mandatory minimum monthly salary in all of the national territory. Said increase will be applied as from April 26, 2021. The minimum salary as from said date is as follows:

a. The monthly amount of Seven Million Bolivars and Zero Cents (Bs. 7,000,000.00) for the workers of the public and private sectors, as prescribed in article 1 of the Decree.
b. The monthly amount of Five Million Two Hundred and Fifty Thousand Bolivars and Zero Cents (Bs. 5,250,000.00) for adolescents and apprentices.

The increase of the national minimum salary, prescribed in article 1 of the Decree, is established for the following cases as well: (i) amount of the benefits of the persons retired from the public administration; (ii) amount granted to those receiving benefits from the Venezuelan Institute of Social Security (IVSS).

However, the salary of part-time workers may only be paid on the basis of the relevant rate in accordance with article 172 of the Organic Law on Labor and Workers.

Presidential Decree No. 4.603 of May 1, 2021 was also published in the aforesaid Official Gazette No. 6.622 of May 1, 2021. Said Decree increased the benefit of the Socialist Cestaticket to the amount of Three Million Bolivars and Zero Cents (Bs. 3,000,000.00) for the workers of the public and private sectors.

This increase came into effect from 26 April 2021.

In order to access the Decree, please click here.

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