According to Decree No. 3, published in the Official Gazette on February 6, 2025, the monthly minimum wage has been set at $510,636 as of January 1, 2025.
This calculation was based on the variation of the Consumer Price Index (CPI) between July 1, 2024, and December 31, 2024.
- It is important to note that the increase in the Monthly Minimum Wage impacts:
- The increase in the cap for statutory bonuses, meaning that this new amount must be considered when calculating the maximum limit of 4.75 monthly minimum wages.
- The increase in administrative fines imposed by the Labor Inspectorate, as these are calculated based on the minimum wage.
- Additionally, as of January 1, 2025, the following values are updated:
- Monthly minimum wage for workers under 18 and over 65 years old: $380.923.-
- Monthly minimum wage for non-remuneration purposes: $329.151.-
- The caps on taxable income for pension and social security contributions have also increased:
- Pension system (AFP), health system (FONASA/ISAPRE), and work accident insurance contributions: 87.8 UF
- Unemployment insurance (AFC) contributions: 131.8 UF
These new caps will apply starting with the payment of pension contributions corresponding to January 2025 salaries.
For additional information on this matter, please contact Alfred Sherman (asherman@jdf.cl) or Leyla Alul (lalul@jdf.cl).
