At a glance
- On 30 May 2023, Law 21,578 was enacted. The law aims to gradually increase the mandatory monthly minimum wage from CLP 400,000 to CLP 500,000 (approximately USD 625 as of this date).
The minimum wage is to be increased as follows:
| Date | Increase |
| 1 May 2023 | CLP 440,000 |
| 1 September 2023 | CLP 460,000 |
| 1 January 2024 (only applicable if the change of consumer price index (CPI) from January to December 2023 exceeds +6%) | CLP 470,000 |
| 1 July 2024 | CLP 500,000 |
| 1 January 2025 | Adjustment according to CPI variation from 1 July to 31 December 2024. |
Please note that even if a company does not have employees who earn the minimum monthly income, this increase will affect the amount of profit sharing to which employees are entitled in cases where the company pays 25% of their annual earnings up to a limit of 4.75 times a monthly wage.
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