The Government presided over the National Council for Employment, Productivity and the Minimum, Vital and Mobile Wage, in which an increase of 15.6% was resolved in April, 6% in May and 5% in June.
He Minimum salary, vital and movil (SMVM), in accordance with the Labor Contract Law, is defined as “the lowest remuneration that the worker without family responsibilities must receive in cash, during his legal work day, so that he ensure adequate food, decent housing, education, clothing, health care, transportation and recreation, vacations and welfare“.
The Minister of Labour, Employment and Social Security, Kelly Olmospresided over the National Council of Employment, Productivity and the Minimum, Vital and Mobile Salary (CNEPSMVM), in which a quarterly increase in the 26.6% until June.
Pesos Bills thousand 1000 Inflation Liquefied Interest Rate
Mariano Fuchila
In this way, the amount of the minimum, vital and mobile salary will go from $69,500 to $87,987. The increase will consist of an increase of one 15.6% in April, 6% in May and 5% in June. On July 15, they will discuss again to adjust the value to inflation.
Pesos Bills thousand 1000 Inflation Liquefied Interest Rate
Mariano Fuchila
The meeting aims determine the Minimum, Vital and Mobile Salarywithin the framework of the provisions of article 135, subparagraph a) of Law No. 24,013 and determine the minimum and maximum amounts of unemployment benefitwithin the framework of the provisions of article 135, subparagraph b) of Law No. 24,013.
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Minimum Wage in Argentina
Historical evolution for a Complete Monthly Shift:
- April 1, 2021: $23,544
- April 1, 2022: $38,940
- April 1, 2023: $80,342
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Who establishes the Minimum, Vital and Mobile Wage in Argentina
The Argentine Constitution establishes an adjustable living minimum wage and fair remuneration for all workers. According to the National Employment Law No. 24,013, the Minimum Wage is the lowest wage that is paid in cash and that all workers over the age of 18 must receive, regardless of the category or activities carried out. You must ensure adequate food, respectable living conditions, education, clothing, health care, transportation, recreation, vacations and other provisions.
The Employment Law considers that one of the main objectives is to establish the Adequate mechanisms for the operation of the minimum wage system. The CNEPSMVM is established in Title VI of the Employment Law, which determines periodically Minimum salary. Wage rates, even when set through collective bargaining, cannot be less than the Minimum Wage.
Pesos Investments Currencies Inflation Pocket Notes 06-14-2021
Ignacio Petunchi
The CNEPSMVM is a tripartite body composed of 48 members (16 members each from the Government, Workers’ and Employers’ groups). The President of the Council is appointed by the Ministry of Labor and Social Security. The mandate of the Council lasts for four years. Council resolutions are approved by a two-thirds majority.
The responsibilities of the Minimum Wage Board include: periodically determining the living and adjustable minimum wage; periodically reassess the minimum and maximum amount of unemployment compensation; approve the guidelines, methodology, rules and regulations to determine the basic basket that becomes a point of reference to establish the minimum living and adjustable wage; the creation of sectoral tripartite technical committees to carry out studies on the sectoral situation; make recommendations to create work and professional training policies and programs; and propose measures aimed at increasing production and productivity.
Source: Ambito
