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Ecuador Minimum Wage Increase for 2014

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President Correa announced the monthly minimum wage will go up to $340 next year, an increase of $22. The wage hike is based on projected inflation for next year (3.2%) as well as productivity. The government set the rate after workers and employers failed to reach an agreement. The minimum wage is officially referred to as the Salario Básico Unificado (SBU). The new wage does not include the two bonus months pay that workers receive. Remember that as an Employer of any domestic or part time help, you are responsible for paying your employee correctly. If you have questions, visit your Ministry of Labor with your Employee to have them properly contracted and affiliated after their 30 day trial period so everything is legal to protect everyone from future misunderstandings.

Submitted on Dec 31, 2013 - Category: Living Overseas, Network: Ecuador

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OceanHideaway