Littler Global Guide - Venezuela - Q3 2017

Browse through brief employment and labor law updates from around the globe. Contact a Littler attorney for more information or view our global locations.

View all Q3 2017 Global Guide Quarterly updates

Increases to the Minimum Wage and Meal Benefit

New Order or Decree

Author: Daniel Jaime, Associate — Littler Mendelson, P.C.

Effective on September 1, 2017, the monthly minimum wage was increased by 40% and the calculation base of “the meal benefit” (known as Cestaticket Socialista) to 21 tax units per day. The new minimum wage, which must be paid in cash, has been set at VEF 136,544.18 per month and VEF 4,551.47 per day, with some exceptions. The Cestaticket must be paid out in cash or credited to workers’ payroll accounts. Both increases apply to the private and public sectors and impact the calculation base for mixed salaries, pensions, social contributions, employee benefits, and sanctions, among other types of payments or benefits.

Information contained in this publication is intended for informational purposes only and does not constitute legal advice or opinion, nor is it a substitute for the professional judgment of an attorney.