Effective January 1st, Mexico is announcing significant increases to minimum wage and benefits...
The New Year has rang in minimum wage increases for two of Mexico’s geographic zones effective January 1, 2019.
Mexico’s National General Minimum Wage will increase from $88.36 pesos per day to $102.68 pesos per day for the entire country with the exception of the northern border free zone shared with the U.S.. The northern border free zone’s General Minimum Wage will increase from $88.36 pesos per day to $176.72 pesos per day which is double 2018’s minimum wage.
The free zone at the northern border with the United States includes all cities within 25 kilometers of the border.
It is also important to note that professional minimum wages will increase by 5%. Contact Carlos Acosta at firstname.lastname@example.org for a more comprehensive list of professional minimum wages.
In addition to the minimum wage increases, benefits will also increase including the following:
a. Labor indexed premiums or bonuses;
b. Social Security premium;
c. Housing premium;
d. Savings funds;
e. Employment benefits, and
f. Ordinary or extraordinary labor union premiums or fees.
Legal advisors in Mexico are advising employers against any strategies to reduce employee salaries or benefits since any attempts may result in costly labor rescission claims, labor inspections or fines.
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Happy Holidays & Felices Fiestas from your friends at The QualiFind Group!