Wednesday, October 1, 2014

National minimum wage increases today for 505 euros – Journal of Wood

National minimum wage increases today for 505 euros – Journal of Wood

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The national minimum wage (NMW) rises today from 485 euros for 505 euros, an increase that covers about half a million workers and is valid until the end of next year.
The increase, which covers about half a million workers, stems from an agreement between the Government, employers’ confederations, UGT and a week ago and is defined by law-decree approved by the Council of Ministers and published in the Official Gazette.
“Updating the value of the minimum wage effected by this ordinance applies between October 1, 2014 and December 31, 2015, “says the diploma.
The tripartite agreement for increased SMN provides as consideration for the bosses a decrease of 0.75 percentage points in the single social tax (TSU) applied to minimum wages and paid by companies.
This increase was agreed after several meetings between the social partners and the Government, except the CGTP, held in the margins of the Social Dialogue throughout the month of September.
CGTP continues to claim an increased SMN for 515 euros with effect from June 1, further rise to 540 euros in January 2015 and a gradual rise up to 600 euros in 2016
The national minimum wage was 485 euros and was frozen since 2011
Under an agreement for Social Dialogue 2006, this compensation should have been fixed at EUR 500 in January 2011
In October 2009 this salary received 8.7 % of workers and in the same month of 2013 the NMW was earned by 12% of workers

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