Flash News - Minimum wage update in Colombia

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Flash News - Minimum wage update in Colombia

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Through Decrees 2292 and 2293 of December 29, 2023, the Ministry of Labor set the value of the Minimum Legal Monthly Wage in Force (SMLMV) with an increase of 12.07% and the Legal Transportation Aid with an increase of 15.22%.

MINIMUM WAGE UPDATE - SUMMARY OF THE YEAR 2024

Ordinary Monthly Minimum Wage		$ 1.300.000
Minimum Daily Wage		$ 43.333
Monthly Transportation Allowance		$ 162.000
Daily Transportation Assistance		$ 5.400
Comprehensive Minimum Wage		$ 16.900.000
Limit for payment of transportation allowance	Limit of 2 Minimum Monthly Wages	$ 2.600.000
The monthly ceiling for the social security system	Limit of 25 Minimum Monthly Wages	$ 32.500.000
Pension Solidarity Fund	From 4 Minimum Monthly Wages	$ 5.200.000
Apprentice Teaching Stage		$ 650,000
Apprentice Practical Stage		$ 1.300.000
Ordinary Hourly Value		$ 5.534
Ordinary hourly rate with night surcharge		$ 7.471
Daytime overtime value		$ 6.917
Overnight Hour Value		$ 9.684
Ordinary Sunday or Holiday Hour Value		$ 9.684
Hourly value on Sundays or holidays with a night surcharge		$ 11,621
Value of extra hourly daytime, Sunday, or holiday		$ 11.068
Value of extra hours on Sunday or holiday nights		$ 13.835

See:

DECRETO 2292 DEL 29 DE DICIEMBRE DE 2023 FIJA SALARIO MINIMO 2024

AUXILIO DE TRANSPORTE 2024 DECRETO 2293 DEL 29 DE DICIEMBRE DE 2023

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