On December 11, 2015 an increase to the minimum wages for 2016 was agreed by the National Minimum Wages Commission, with an increase of 4.2% to the general minimum wage and the professional minimum wages.
Consequently, the new daily general minimum wage applicable to the whole country, effective January 1st, 2016, is as follows:
|New General Daily Minimum Wage for 2016||Increase Percentage|
Furthermore, is important to consider this increase in order to, if applicable, update the employees' base quotation salary for the payment of social security contributions and give the proper notice to the Mexican Social Security Institute.
Although the increase percentage usually served as a general parameter for salary revisions (individual and collective), the current trend is to dissociate them and consider other factors, such as productivity, competitiveness, inflation, and continue evaluating each company's particular situation and background.
We will be glad to assist you in the process of determining the appropriate terms for the corresponding review in your company
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.