<Minimum Wage Update in NL, July 2024 / オランダ最低賃金アップデート 2024年7月版> On July 1, 2024, the statutory minimum wage in the Netherlands for workers aged 21 and over will increase by 3.1%, from 13.27 to 13.68 euros per hour. On January 1, 2024, a statutory minimum hourly wage was introduced, abolishing fixed minimum monthly, weekly, and daily wages. From that point on, employers are obliged by law to pay hourly workers at least the statutory minimum hourly wage. The minimum wage amount is usually adjusted every six months (January and July) to reflect the average development of wages. 2024 年7月1日、21 歳以上の労働者に対するオランダの法定最低賃金は 3.1% 上昇し、1 時間あたり13.27ユーロから13.68ユーロになります。2024 年1 月1日に法定最低時給が導入され、固定最低月給、週給、日給は廃止されました。その時点から雇用主は、法律により時間給労働者に少なくとも法定最低時給を支払う義務があります。最低賃金額は通常、賃金の平均的な推移を反映するために 6 か月ごと (1 月と 7 月) に調整されます。 For reference, here is the calculation method for the minimum wage for a 40-hour work week, Monday to Friday, as announced by the Dutch government: 参考までに、オランダ政府が発表している、月~金の週40時間勤務における最低賃金計算法を記載いたします。 Number of working days in the 2024 calendar year based on your schedule (Mondays, Tuesdays, Wednesdays, Thursdays, Fridays) = 262 working days Number of working hours per working day: 40 hours per week ÷ 5 working days = 8 working hours per day Number of working hours in 2024: 262 working days x 8 working hours per working day = 2,096 working hours in 2024 Statutory hourly minimum wage for people aged 21 and older: €13.68 per hour Fixed salary per month = (number of working hours in 2024 ÷ 12 months) x statutory minimum wage Average number of working hours per month in 2024: (2,096 working hours in 2024 ÷ 12 months = 174.6666666667) This comes to an average of 174 2/3 working hours per month Fixed monthly salary = 174 2/3 working hours x €13.68 per hour Fixed monthly salary: €2,389.48 However, since we are a specialist in recruitment, we recommend that you check with a lawyer or other professional for detailed information. ただし、弊社はあくまで人材紹介を専門としておりますため、詳細情報については、弁護士などの専門家への確認を推奨いたします。 参照リンク https://lnkd.in/eFzbPfeQ. https://lnkd.in/eMUv4pGY #minimumwage #inflation #economy #workinnetherland #netherland
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07:30 Thursday 14, 2024 World at Work Japan's overworked, underpaid truckers left behind in wage bonanza March 13, 202411:04 PM GMT 1Updated 8 hours ago TOKYO, March 14 - As Japan's big companies prepare to hand out their heftiest pay hikes in decades, trucking firm owner Ikuko Sakata feels like she inhabits a different reality. Despite facing some of the country's tightest labour markets and no shortage of demand, small delivery companies like Sakata's can barely afford to make ends meet. The Tokyo-based company that she runs pays its approximately 80 employees the minimum wage, putting their base salaries at around 280,000 yen ($1,900) a month before overtime. "That's the best we can do," said Sakata, who took over the 73-year-old family business from her father in 1995. She hopes to do better for the coming year but is afraid that might be difficult. Sakata's predicament contrasts starkly with the rosy picture emerging for workers' pay at brand-name companies such as Toyota Motor (7203.T), opens new tab and Nippon Steel (5401.T), opens new tab . It also raises questions about whether the time is right for Japan's central bank to finally normalise monetary policy, with sustainable wage increases seen as one of the conditions for an end to negative interest rates. Most economists expect the Bank of Japan to raise interest rates - for the first time in 17 years - either this month or next. Wrapping up their annual wage negotiations on Wednesday, Toyota, Panasonic (6752.T), opens new tab, Nippon Steel and Nissan (7201.T), opens new tab were among major firms that agreed to fully meet union demands. Workers at major firms have asked for annual increases of 5.85%, topping the 5% mark for the first time in 30 years, according to Japan's biggest trade union grouping, Rengo. The government is counting on such wage hikes to trickle down to smaller and medium-sized firms, which account for a whopping 99.7% of all enterprises and about 70% of the country's workforce. Wage talks for the bulk of small- to mid-sized companies are expected to conclude by the end of March. Page 1 continue Delivery trucks are parked at a parking area along the highway in Chiba, east of Tokyo, Japan April 6, 2023.
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🥁 Important Minimum Wage Update! 💥 🌟 New Minimum Wage Effective: Rs 4,925 🌟 Here’s a detailed overview of how the updated wage rates will affect your salary: 💼 Current Minimum Wage (2023): Rs 11,575 💼 New Minimum Wage (2024): Rs 16,500 ✨ Adjustment Amount:Rs 4,925 🔈 Who Should Be Concerned? Approximately 60% of the private sector workforce will be impacted. See the breakdown of how these changes will affect different scenarios below: Scenario 1: If your salary was Rs 11,575 in December 2023 and increases to Rs 16,500 in January 2024, you are already compliant with the new minimum wage and will not see further increases in July 2024. ✅ Scenario 2: For those earning Rs 15,000 in December 2023 and transitioning to Rs 16,500 in January 2024, an additional increase of Rs 3,425 will be applied, raising your salary to Rs 19,925 from July 2024. 📈 Scenario 3: If your salary was Rs 18,000 in December 2023, expect a 10% increase in January 2024, bringing your salary to Rs 19,800. By July 2024, your salary will rise to Rs 22,925, reflecting an additional Rs 3,125. 🚀 Scenario 4: For salaries between Rs 20,000 and Rs 50,000 in December 2023, expect an increase to Rs 22,925 in July 2024, a rise of Rs 2,925. 💵 🚫 Who Is Not Affected? Employees who have already received the adjusted minimum wage of Rs 4,925 in their January 2024 salary will not see additional revisions. 🙅♂️ 💰 For Employees Earning Over Rs 50,000: It is recommended to negotiate salary adjustments directly with your employer. 🤝 📅 When Will Adjustments Be Reflected? Salary adjustments will be applied from July 2024, with back pay for one month included in the August payroll. 📆 ❓ Changing Jobs in January 2024? Salary calculations will be based on the prescribed rates for the role. Further details will be provided as regulations are finalized. 📝 🎓 New Minimum Salaries for Graduates and Postgraduates: The new thresholds of Rs 23,000 for Diploma holders and Rs 25,000 for Degree holders apply to both new hires and existing employees with these qualifications. 🎓 🛠️ Legislation Updates: The Ministry of Labour will issue amendments to formalize these changes. 📜 👔 Should Employers Adjust Salaries for Existing Graduates? Yes, employers must increase salaries for employees earning below the new thresholds of Rs 23,000 and Rs 25,000. ✅ ⚠️ Consequences for Non-Compliance: Companies failing to comply with the updated wage requirements will face penalties. 🚨 STAY INFORMED AND ENSURE COMPLIANCE! #PayRise #2024Salaries #EconomicEmpowerment #StayUpdated #StayEmpowered
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When the National Statistics Office - Malta reports the average basic wage, why do we see that it "doesn’t include allowances, bonuses and overtime payments"? In Maltese payroll, 'basic' is an important keyword. Employers pay NI contributions only on the basic income, which often means diverting income into allowances reduces the cost. Inadvertently, it also reduces the pensionable income of the employee. These allowances, including legally required ones like the Weekly Allowance and Statutory Bonus, don't make into statistical reports, hiding a vital aspect of modern society. It's necessary that additional income is reported separately to shed light on the reliance on supplementary income. It would also be useful to assess policies such as the introduction of reduced Overtime Tax, in force since 2020. A primary, and potentially legal issue in the EU court of law, is that valuing the basic wage as the holy number infringes on the employee's benefits when using 'average wage'. Let's take a realistic example of an employee. This employee works at €8 basic €2 hourly allowance. On average, they earn €320 per week in basic wage, €80 in agreed hourly allowances, and €60 hours in overtime. Flaw #1: The overtime is calculated solely on the basic wage, in this case assumed at 5 hours per week. When the employee is on leave, the overtime portion is not considered, and in some cases, neither are allowances. This is concerning for prospective parents. Flaw #2: If the example employee plans to go on Maternity Leave, they would effectively have a pay cut of AT LEAST over €240 per month on maternity leave, due to ineligibility to earn overtime. I raise the question, and perhaps it would be interesting for the Times of Malta and other journalists to follow-up: Is it legally right for pension and other calculations to only consider the basic wage? There are employees that earn over €10,000 a year in Overtime Income (this can be be verified by Malta Tax and Customs Administration (MTCA) based on data gathered in the FS3s). It's high-time that we ensure employees are not suffering long-term consequences when being offered supplementary income, just for a short-term benefit to survive the economic landscape of modern Maltese life.
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Annual Wage Review 2023-2024 The Fair Work Commission (FWC) has announced its decision for the 2023-2024 Annual Wage Review, conducted under section 285 of the Fair Work Act 2009. This review comprised the following two tasks: 1. National Minimum Wage Order To review and set the National Minimum Wage, which affects a small number of employees not covered by modern awards or enterprise agreements. 2. Modern Award Minimum Wages To review the minimum wages set by 121 modern awards. These awards impact approximately 20.7% of the Australian workforce, translating to around 2.6 million employees. Factors the FWC took into account include: 1. Employee Characteristics Those reliant on modern award minimum wages tend to be part-time workers, predominantly women, and almost half are casual employees, typically earning lower wages. 2. Economic Impact The total wage cost for this group constitutes less than 11% of the national wage bill. The economic effect is concentrated in four industry sectors, with negligible impact on others. 3. Other considerations The Fair Work Act mandates considerations such as living standards, needs of the low paid, workforce participation, economic performance, and gender equality. Submissions from various stakeholders, including employer and employee organisations and government bodies, were reviewed. Wage Increase Decision: The Commission has decided to increase both the National Minimum Wage and modern award minimum wage rates by 3.75%, effective from 1 July 2024. For a full-time worker (38 hours per week) that’s an hourly wage of $24.10 (or $915.90 per week). This decision was influenced by ongoing cost-of-living pressures and the need to avoid further reduction in real wage rates despite inflation being lower than last year. The increase aligns with forecasted wage growth and supports the anticipated return of inflation to below 3% in 2025. How our team can help: Ignite HR & Employment Law is here to support employers in navigating the complexities of the new wage review decision. Our team can provide comprehensive advice on how to implement the 3.75% wage increase in compliance with the updated regulations, ensuring that your business remains aligned with legal requirements. We offer tailored solutions for updating payroll systems, revising employment contracts, and managing employee communications to facilitate a smooth transition.
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The Fair Work Commission Annual Wage Review 2023–2024 Decision has come into effect, impacting wages and workplace conditions for many Australian workers. These adjustments aim to balance economic challenges with the need for fair compensation, impacting a wide range of industries. Summary of the Decision – National Minimum Wage: - Increased by 3.75% to $915.90 per week or $24.10 per hour, effective from 1 July 2024. All Modern Award Minimum Wages: - Increased by 3.75%, effective from 1 July 2024 - Will affect approximately 2.6 million employees and their employers Economic and Social Considerations: - Cost-of-living pressures, inflation rates, labour productivity and forthcoming tax cuts and superannuation increases influenced the decision - As previously announced by the ATO, from 1 July 2024, the superannuation guarantee rate has also increased to 11.5% Gender Equity Initiatives: - Announced forthcoming proceedings to address gender undervaluation issues in certain modern awards, with a focus on early childhood education, disability home care and other social services Consultation Process: - Submissions from various stakeholders were considered, including employer and employee organisations - However, the decision is an independent assessment by the Fair Work Commission. To read the Decision in full, please see the attached announcement from the FWC. Stay informed and proactive with these changes to ensure compliance and support your workforce effectively. If you have any questions about the Annual Wage Review and what the adjustments could mean for you or your business, please do not hesitate to contact Stevens & Associates Lawyers: https://lnkd.in/gCSHgjCx #MinimumWage #FairWorkCommission #ModernAwards #EmploymentUpdate #EmploymentLaw
Annual Wage Review 2023–2024 – Announcement of Decision
fwc.gov.au
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Three types of salaries will increase from July 1st, 2024 The salary of officials and employees will increase by how much? The National Assembly has passed Resolution 104/2023/QH15 on the state budget estimate for 2024, which includes provisions on the implementation of salary reform from July 1, 2024. Under the new salary policy, the salary range for officials and employees will be expanded from the current range of 1 – 2.34 – 10 to 1 – 2.68 – 12. Administrative procedures. Photo: TTXVN With this expanded salary range, the minimum salary for officials and employees will increase significantly (compared to the current starting salary of VND 3.5 million for officials and employees with intermediate qualifications and a salary coefficient of 1.86). At the same time, the average salary for officials and employees will also have a higher starting coefficient of 2.68 (higher than the current coefficient of 2.34). It is known that with a coefficient of 2.34, officials and employees with university qualifications have a starting salary of over VND 4.2 million per month. The highest salary for officials and employees, corresponding to grade 3 of senior experts (equivalent to the Minister’s salary), will also be expanded from coefficient 10 to coefficient 12. Therefore, the new highest salary for officials and employees is expected to be higher (compared to the current amount of VND 18 million). Therefore, starting from July 1, 2024, the average salary for officials and employees will increase by about 30%. The specific salary increase for each target will depend on the position, job performance, etc. Proposal to increase minimum wage by 6% from July 1, 2024 On December 20, 2023, the National Wage Council voted to finalize the minimum wage increase for 2024 at 6%, with the effective date being from July 1, 2024. With an additional 6% adjustment to the minimum wage, the minimum wage will increase by an additional VND 200,000 to VND 280,000 depending on the region. Specifically, after the adjustment, the minimum wage in each region will be as follows: Region 1 will increase to VND 4,960,000; Region 2 will be VND 4,410,000; Region 3 will be VND 3,860,000; and Region 4 will reach VND 3,450,000. (Currently, the minimum wage ranges from VND 3,250,000 to VND 4,680,000) The hourly minimum wage will also increase by 6% from July 1, 2024. Specifically, Region 1 will increase to VND 23,800; Region 2 will be VND 21,200; Region 3 will be VND 18,600; Region 4 will be VND 16,600. Proposal to increase pensions, social insurance allowances from July 1, 2024 In addition to the salary reform for officials and employees, the resolution also mentions the increase in pensions and social insurance allowances. Accordingly, from July 1, 2024, the comprehensive reform of salary policies will be implemented in accordance with Resolution 27-NQ/TW dated May 21, 2018 of the 7th Party Central Committee, 12th tenure. At the same time, adjustments will b...
Three types of salaries will increase from July 1st, 2024 The salary of officials and employees will increase by how much? The National Assembly has passed Resolution 104/2023/QH15 on the state budget estimate for 2024, which includes provisions on the implementation of salary reform from July 1, 2024. Under the new salary policy, the salary range for officials and employees will be expand...
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3 Reasons To Pay Above the Minimum Wage Enacted in 1938, the Fair Labor Standards Act governs the federal minimum wage, among other things. Last increased in 2009, the federal minimum wage stands at $7.25 per hour. Many states and some localities have their own minimum wage laws that set the minimum higher than the national rate. Minimum wage laws represent only the legal bare minimum. It does not mean that employers should not pay more. Below are three reasons to pay above the minimum wage. 1. The minimum wage might not be a livable wage. According to a congressional report, "The real value of the federal minimum wage has declined 24% since 1968. Today, the federal minimum of $7.25 leaves an adult with two children thousands of dollars below the federal poverty threshold. This is unacceptable." While some policymakers are pushing to raise the federal minimum wage for private-sector workers, the effort has been unsuccessful thus far. It's worth noting that an executive order raising the minimum wage to $15 per hour for federal workers and contractors is now in effect. In addition, many states and some localities have a minimum wage higher than that mandated by federal law. But the increases are oftentimes incremental and spread out over a period of years. 2. Higher wages improve morale and productivity. A major concern for small businesses especially is that paying more than the minimum wage could eat away at their profits. Experts say this line of thinking is counterproductive because low wages are associated with various negative outcomes. For example, employees may: - Become financially stressed. - Feel demoralized. - Call in sick more frequently. - Perform poorly at work. - Leave the company for more competitive wages Note that financial stress is linked to physical ailments such as: - Migraines - Anxiety - Digestive issues - High blood pressure - A weakened immune system - Muscle tension - Heart arrhythmia Along with enhancing employee well-being, higher wages improve organizational health by mitigating the costs of turnover. 3. Paying higher wages boosts quality of hire. Jobs that pay the minimum wage are commonly found in the restaurant, hospitality and retail industries. One could argue that such jobs do not require much education or high-paying skills, therefore, low pay is justified. However, it's important to remember that even if the job does not require much in the way of education or technical skills, other factors are vital to employee success. This includes soft skills like punctuality and reliability, the ability to follow instructions, trustworthiness, collaboration capabilities, and customer service etiquette. Employers that pay only the minimum wage may find it difficult to attract qualified candidates with these attributes.
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After realizing that the minimum wage in its home country left some workers at breaking point, French tire-maker Michelin has taken matters into its own hands to give employees a hefty pay raise. Michelin is rolling out its own living wage to its 132,000 employees, the company said in a press release shared with Fortune and first reported by French publication Le Figaro. It follows a three-year battle by the tire-maker’s boss to get buy-in and convince decision-makers at the group that a pay raise was needed to help staff members he described as being left in “survival mode.” The 134-year-old group, which makes heavy-duty tires for construction and freight-handling companies, has set living wages for employees based on their location to correlate with living costs. The calculation for the living wage was also made based on what employees needed to provide for their family’s “essential needs.” Read more: https://lnkd.in/d_aKwvq2
Michelin rolls out global living wage after minimum wages left staff in 'survival mode'
fortune.com
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Labor Compliance Analyst/Construction Prevailing Wage Subject Matter Expert. Davis Bacon, STWF, Inflation Reduction Act and so much more! Just ask!
People often use one of three terms when discussing wages: minimum wage, prevailing wage, and living wage. What’s the difference? 1. Minimum Wage Minimum wage is the most widely recognized term in the realm of employee compensation. It is the lowest allowable rate of pay at which an employee may sell their work. The concept of minimum wage was developed in the early 20th century to prevent unethical employer practices, such as sweatshops where the wage was disproportionately low compared to the work. In addition to the minimum wage mandated by the U.S. federal government, dozens of other states have their own minimum wage rates – all of which exceed the federal rate. Minimum Wage Management. Simplified. Employees in the U.S. often wonder which minimum wage applies to them, the state or the federal. According to the U.S. Department of Labor, an employee is entitled to the higher of the two minimum wages. 2. Prevailing Wage Prevailing wage typically refers to the rate of pay that contractors and vendors must offer their employees when doing business with a government agency. For example, Los Angeles requires contractors engaged in public works contracts (road construction, for instance) with the city to pay their workers a base level determined by California’s Department of Industrial Relations. A prevailing wage requirement reduces the ability of vendors to “low ball” their proposed costs for government contracts to the detriment of their workers. One of the key components to the development of the modern prevailing wage was the Davis-Bacon Act of 1931, a federal law which mandated that all laborers, contractors and subcontractors be paid a prevailing wage for all public works projects in excess of $2,000. 3. Living Wage Living Wage is the lowest wage at which subsistence needs can be met by an employee. Because the needs of each employee differ based on marital status, number of children, debt, and other cost-of-living considerations, the term living wage often pushes many hot-button political issues. Living wage can include general benefits, such as health and dental care, and overtime pay. Legislation and policy conversations surrounding the increase of minimum wage quite often intersect with those of living wage. Proponents of a higher federal minimum wage, for example, argue an increase would help the “working poor” achieve a living wage and reduce the number of full-time workers who rely on government assistance. Although the terms living wage and minimum wage are often used interchangeably, they remain different from one another. One key difference is that minimum wage is mandated and enforced by legislation whereas living wage is not. To learn about the living wage in your area, try MIT’s Living Wage Calculator. The wage an employee earns deals with politics on state and federal levels, worker qualifications, and the financial interests of the employer.
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Managing Partner | Employment and Data Privacy Lawyer | Workplace Disputes Consultant | Trainer Romania & United Arab Emirates
𝗠𝗶𝗻𝗶𝗺𝘂𝗺 𝘄𝗮𝗴𝗲 𝘁𝗼 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝘁𝗼 𝟯,𝟳𝟬𝟬 𝗥𝗢𝗡 𝗳𝗿𝗼𝗺 𝟭𝘀𝘁 𝗼𝗳 𝗝𝘂𝗹𝘆 According to a press release issued on 8th of April 2024, the Ministry of Labour and Social Security announced that starting with 1st of July 2024, the minimum wage will increase from the current 3,300 RON gross to 3,700 RON gross. Government representatives also pointed out that a mechanism for setting the minimum wage is currently being developed in order for Romania to align with the European Directive 2.041/2022. This means that the level of the minimum wage will no longer be set following a negotiation between the Government and representatives of trade unions and employers, but based on a clear mechanism of calculation, which will take into account several factors (social and economic conditions, purchasing power, level of productivity and the evolution of macroeconomic indicators at national level) so that predictability exists for both employers and employees. European Directive No 2.041/2022, should be transposed into national law by 15th of November 2024. 𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗳 𝘁𝗵𝗲 𝗺𝗶𝗻𝗶𝗺𝘂𝗺 𝘄𝗮𝗴𝗲 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 - 𝗼𝗯𝗹𝗶𝗴𝗮𝘁𝗶𝗼𝗻𝘀 𝗳𝗼𝗿 𝗰𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝟭. 𝗖𝗼𝗻𝗰𝗹𝘂𝗱𝗶𝗻𝗴 𝗮𝗻 𝗮𝗱𝗱𝗲𝗻𝗱𝘂𝗺 𝘁𝗼 𝘁𝗵𝗲 𝗲𝗺𝗽𝗹𝗼𝘆𝗺𝗲𝗻𝘁 𝗰𝗼𝗻𝘁𝗿𝗮𝗰𝘁𝘀 Any change during the performance of the individual employment contract requires the conclusion of an addendum to the contract before the change occurs. This means that if the minimum wage increases on 1st of July 2024, the formal change must be made by 31st of June 2024 at the latest. 𝟮. 𝗥𝗲𝗰𝗼𝗿𝗱𝗶𝗻𝗴 𝘁𝗵𝗲 𝗰𝗵𝗮𝗻𝗴𝗲𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗘𝗺𝗽𝗹𝗼𝘆𝗲𝗲𝘀 𝗥𝗲𝗴𝗶𝘀𝘁𝗿𝘆 (𝗥𝗘𝗩𝗜𝗦𝗔𝗟) Employers will have a maximum of 20 working days from 1st of July 2024 to register changes to the gross minimum wage increase with Revisal. Failure to submit the modifications related to the salary increase on time may be sanctioned by the labour inspectors with a fine from 5,000 RON to 8,000 RON. 𝟯. 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗶𝗻𝗴 𝘁𝗵𝗲 𝗶𝗻𝘁𝗲𝗿𝗻𝘀𝗵𝗶𝗽 𝗮𝗹𝗹𝗼𝘄𝗮𝗻𝗰𝗲 Law No 176/2018 on internship establishes that an intern must be paid at least half of the gross minimum wage in proportion to the time worked. Therefore, from 1st of July 2024, companies will refer to at least 1,850 RON when calculating the intern`s income. 𝟰. 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗶𝗻𝗴 𝘁𝗵𝗲 𝗶𝗻𝗰𝗼𝗺𝗲 𝗼𝗳 𝗱𝗮𝘆 𝘄𝗼𝗿𝗸𝗲𝗿𝘀 Day workers also benefit from the increase of the gross minimum wage, as the law governing the work of day labourers has established a direct link between their pay and the minimum wage, so that the minimum hourly pay that can be paid to day labourers is equivalent to the minimum hourly pay of employees receiving the minimum wage. >>> https://shorturl.at/opsS1 #minimumwage #increase #employmentcontract #newrule #directive
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