A larger tax deduction for parents with children, an increase in the minimum wage as of 04/01/2024, and a three-year bonus upon completion of the required term.
Even three consecutive increases in their net wages would see hundreds of thousands of private sector workers out of the minimum wage. The first change will be seen in January payrolls and will concern parents with children. This is due to the increased tax exemption for families with children. The second change will appear with April salaries, which will be paid at the end of the fourth month.
The new amendment to the minimum wage will be effective from April 1, as it was last year. The increase is set at 3-4% to keep pace with the estimated inflation of 2023. Of course, final decisions will be made in March by the Council of Ministers after taking into account economic data.
The pay date will be different for each employee because it requires completion of three years of service either before February 2012 or after January 1, 2024.
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