:quality(75)/cloudfront-us-east-1.images.arcpublishing.com/elcomercio/3BPOUPQ6EBFRPL7WPSJ5B6UVI4.jpg "Minimum Wage in Colombia: how much will the increase be and how is the salary this 2023?")
Since the end of 2022, the president of Colombia, Gustavo Petro, indicated that the minimum wage will see an increase of 16%. This monthly income for each worker is formally supported by the International Labor Organization (ILO) since it is the minimum amount of economic remuneration that an employer is obliged to pay a worker for the services that he has provided. certain time.
In this Depor note, find out all the details of the minimum wage in Colombia, how much it has increased, how much it is, for whom it applies and more.
How much will the 2023 Minimum Wage be?
After President Gustavo Petro’s announcement in December 2022, the increase in the minimum wage increased by 16%. Which means that the workers receive as of the first day of 2023, a minimum remuneration of $1,300,606 Colombian pesos.
It is worth mentioning that, according to various explanations in this regard, the increase was only applied to workers who earn a minimum wage, which corresponds to 15.7 percent of the country’s workers; which means that workers who earn more than the minimum, which is more than 41.2 percent of the labor force in Colombia, said increase does not necessarily apply.
According to the Consumer Price Index (CPI), it recommends that, despite the fact that there is no legal provision that requires the adjustment of the salary for those who earn more than the minimum, the adjustment of the SMMVL is recommended.
How is the 2023 minimum wage?
With the increase in the Minimum Wage 2023 in Colombia, it is important to mention that the salary will remain at $1,300,606 Colombian pesos. However, if a worker works overtime, these will also be paid from said increase, therefore, to calculate the number established by law, it will be necessary to do some sums.
That is, the ordinary work hour is $4,833 pesos. The daytime hour has an increase of 25%, so it is $6,041.67 pesos. On the other hand, the nighttime overtime increased 35%, remaining at $6,525 pesos. And the extra hour on Sundays and holidays increased 75%, reaching a total of $8,457 pesos.
Additionally, the increases are cumulative, therefore, when working overtime, a good example is working on a holiday and this being a Sunday, so the increase is the sum of both percentages.
What is the minimum wage in Colombia?
According to the International Labor Organization (ILO), the minimum wage is the minimum amount of economic remuneration that an employer is obliged to pay a worker for the services that he has provided for a certain time. In Colombia, this remuneration is called the “Current Legal Monthly Minimum Salary (SMMLV)”, and is regulated by the Substantive Labor Code in its article 45.
