ARTICLE · 05 FEBRUARY 2015

Venezuela Increases The Minimum Wage

Littler Mendelson

Venezuelan President Nicolas Maduro announced at the National Assembly a fifteen per cent (15%) increase in the monthly minimum wage, effective February 1, 2015.

VenezuelaEmployment and HR

Daniel Jaime

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Venezuelan President Nicolas Maduro announced at the National Assembly a fifteen per cent (15%) increase in the monthly minimum wage, effective February 1, 2015. This presidential announcement has not yet been published on the Official Gazette.

Minimum Wage Increase

The new minimum wage has been set at 5,622.47 bolivars (VEF 5,622.47) per month, and 187.41 bolivars (VEF 187.41) per day.

Cash Payment

The minimum wage must be paid in cash. No other type of payment in kind can be counted as part of the salary.

Fixed Amount for Mixed Salary

The fixed amount for the mixed salary should not be less than the amount of the new minimum wage. For example, if an employee receives a fixed salary plus a variable salary or a fluctuating salary, the amount must not be lower than VEF 5,622.47.

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Venezuela Increases The Minimum Wage

Minimum Wage Increase

Cash Payment

Fixed Amount for Mixed Salary

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