INCREASE APPROVED IN MINIMUM WAGES OF THE PRIVATE SECTOR FOR THE YEAR 2022.

On October 26th, the National Wages Council approved the increase that will govern the minimum wages of the private sector for the year 2022.

The increase approved rises to an overall 2.09% for all minimum wages in the private sector and must be applied from January 1st, 2022. This increase will apply for the entire year (for some years a single annual increase has been applied at the beginning of the year, instead of two semi-annual increases – in January and July of each year).

This increase must be applied to minimum wages. It is not an obligation to apply it in wages above the minimum.

In addition to the 2.09% increase indicated above, an extra increase must be applied in the following percentages and to the following activities / categories:

1. Monthly Domestic Service 2.33962%.

2. Semi-skilled Monthly Worker 0.3986390%.

3. Skilled Worker per Day 0.3955514%.

4. Monthly Specialized Worker 0.5562880%.

In case you require any help to determine the applicability or not of this increase, or to calculate the amount of the minimum wage that will govern from January 2022, do not hesitate to contact us via email, at info@lexincorp.com or to Mr. Eugenio Vargas Ramírez at his email evargas@lexincorp.com

Written by:

Eugenio Vargas

Associate

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