Colombia: Monthly Minimum Wage and Transportation Aid for 2021 fixed by Colombian government
Through Decrees 1875 and 1786, the Colombian government fixed the monthly minimum wage and the transportation aid for 2021, bearing in mind the consumer price index for 2020 and the constitutional case law, as follows:
- The monthly minimum wage (MMW) for 2021 will be COP$ 908.526.
- The transportation aid for 2021 will be COP$ 106.454, which is entitled by workers earning up to 2 MMW and has been recognised as connectivity aid since June 2020.
- Both MMW and transportation aid for 2021 represent a 3.5% increase over the 2020 values.
Therefore, the values to bear in mind for 2021 are the following:
|Monthly Minimum Wage (MMW)||$908.526||$260|
|Transportation Aid / Connectivity Aid (TA)||$106.454||$30|
|MMW + TA||$1.014.980||$290|
|Daily Minimum Wage (8 hours)||$30.284||$8.65|
|2 MMW (reference for entitlement to working outfit and TA)||$1.817.052||$519|
|13 MMW (Minimum Integral Salary)||$11.810.838||$3.375|
|25 MMW (Social Security contributions’ limit)||$22.713.150||$6.489|
|Integral Salary to pay social contributions to the limit (70% of the IS)||$32.447.357||$9.271|
For more information on these articles or any other issues involving labour and employment matters in Colombia, please contact Alejandro Castellanos (Partner) of López & Asociados at email@example.com or visit www.lopezasociados.net