On November 7, 2020, Law 21.283 was published in the Official newspaper and it went into force. This law makes changes to the minimum wage.
The article n°1 of this Law, establishes that the minimum wage as of September 1, 2020 has been increased to $ 326.500 for employee older than 18 years and up to 65 years old. On article n°2, the Law establishes that the minimum wage for employees younger than 18 and older than 65 years old, should be increased to $ 243.561.
This change might have a retroactive effect on the legal profit shared paid on September and October as part of the employee´s salary.
The Law also indicates in article n°6, that no later than April 2021, the President should send to the National Congress a law project to propose another adjustment to the minimum wage, which should come in to force starting May 1, 2021.
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