EFFECTIVE MAY 1, 2017

Through Decrees 2.832 and 2.833 (Official Gazette of the Bolivarian Republic of Venezuela N° 6.296 E of May 2, 2017), President Nicolas Maduro increased both the minimum wage and the Cestaticket Socialista (Meal benefit).

 

The President decreed a 60% minimum wage increase, which went from Bs. 40.638,15 to Bs. 65.021,04.

 

The Cestaticket Socialista, formerly calculated based on 360 tax units, will now be calculated based on 450 tax units. Consequently, the the Cestaticket meal benefit will increase from Bs. 108.000,00 to Bs. 135.000,00 monthly.

 

Additionally, there is a change related to the payment method of the Cestaticket Socialista.  According to the new Decree, the payment must be made in cash or deposited in the same bank account registered for the payment of the salary.

Currently Employment Law authorities are also considering valid for Cestaticket Socialista purposes the use of electronic cards if they let employees obtain cash from ATMs.

 

The minimum global monthly salary plus benefits increased from Bs. 148.368,15 to Bs. 200.021,04.

Please see below the most recent variations of the Minimum Wage and Cestaticket Socialista.

 

DATE MINIMUM WAGE CESTATICKET SOCIALISTA MONTHLY GENERAL
01/05/2016 Bs.  15.051,15 Bs.  18.585,00 Bs.  33.636,15
01/08/2016 Bs.  15.051,15 Bs.  42.480,00 Bs.  57.531,15
01/09/2016 Bs.  22.576,73 Bs.  42.480,00 Bs.  65.056,73
01/11/2016 Bs.  27.092,10 Bs.  63.720,00 Bs.  90.812,10
01/01/2017 Bs. 40.638,15 Bs. 63.720,00 Bs. 104.358,15
01/03/2017 Bs. 40.638,15 Bs. 108.000,00 Bs. 148.638,15
1/05/2017 Bs. 65.021,04 135.000,00 200.021,04

 

 

Should you have any question, please do not hesitate to contact us.

 

danielpm@mantelliniyasociados.com

 

May-2017

 

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