It is important to note that, effective January 1, 2025, the Statutory Minimum Wage (“SMW”) for employees will be set at four hundred seventy United States dollars (US$470.00), which includes the salary for employees in small industries, agricultural employees, domestic employees, maquila employees, microenterprise collaborators, and artisans.
The percentage increase of the SMW for employees in general for 2025, compared to 2024, is 2.174% (which applies to the establishment of sectoral minimum wages).
As a result of the new SMW, employers will be required to contribute 11.15% for employer contributions (US$52.41) and withhold 9.45% for employee contributions (US$44.42).
Edmundo Ramos, Socio en CorralRosales
eramos@corralrosales.com
+593 2 2544144
