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Minimum Wage Adjustment

25 Sep 2018

Minimum Wage Adjustment

The law on the minimum wage adjustment (IMM) recently published in the Official Gazette sets the minimum salary for workers between 18 and 65 years of age at CLP$288,000, effective September 1, 2018, and at CLP$301,000 effective March 1, 2019. Starting March 1, 2020, the minimum monthly wage will be adjusted and raised on the basis of the minimum monthly wage in force on February 29, 2020, in accordance with the growth forecast for the Gross Domestic Product based on the percentages set down in Law 21,112.

The legal profit share set down in article 50 of the Labor Code must be adjusted to the aforesaid IMM amounts.

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Should you require further information on this subject, please contact Claudia Godoy at cgodoy@jdf.cl; Francisco Schenke at fschenke@jdf.cl; Alfred Sherman at asherman@jdf.cl