Royal Decree 145/2024, of February 6, which sets the minimum interprofessional wage (SMI) for 2024, has been published in the Official State Gazette (BOE) and establishes the amounts that will apply between January 1 and December 31, 2024.
Royal Decree 145/2024, dated February 6, has been published in the Official State Gazette (BOE), establishing the minimum interprofessional wage (SMI) for 2024, which sets the amounts that will be in force between January 1 and December 31, 2024, and will be paid retroactively as from January 1, 2024. The SMI goes from 1,080 euros per month in 2023 to 1,134 euros per month in 2024 (in 14 payments per year). This represents an annual increase from 15,120 euros (last year) to 15,876 euros.
We inform you that in the BOE of February 7, 2024, Royal Decree 145/2024 has been approved, setting the minimum interprofessional wage (SMI) for 2024, which establishes the amounts that will be in force between January 1 and December 31, 2024, proceeding its payment, consequently, with effect from January 1, 2024.
The new amounts, which represent an increase of 5% with respect to those provided for in Royal Decree 99/2023, of February 14, which set the SMI for 2023, and whose effects were extended by means of article 84 of Royal Decree-Law 8/2023, of December 27, are set at:
- 37.8 euros/day or 1,134 euros/month, depending on whether the salary is fixed on a daily or monthly basis, for any activity in agriculture, industry and services, regardless of the sex or age of the workers.
- 53.71 euros/legal working day for temporary workers and for seasonal workers whose services to the same company do not exceed 120 days.
- 8.87 euros/hour effectively worked for domestic employees who work on an hourly basis, on an external basis.
Thus, the SMI goes from 1,080 euros per month in 2023 to 1,134 euros per month in 2024 (in 14 payments per year). This means an annual increase from 15,120 euros (last year) to 15,876 euros (for 2024).
The amounts for the SMI 2024 will enter into force the day after its publication in the BOE and will take effect during the period from January 1 to December 31, 2024, proceeding, consequently, the payment of the minimum wage in the same established with effect from January 1, 2024.
Wage supplements
The minimum salary will be increased by the salary supplements referred to in Article 26.3 of the Labor Code, as well as the amount corresponding to the guaranteed increase in the salary at time in the remuneration at a premium or with incentive to production, serving as a module, if applicable, and as established in the collective bargaining agreements and employment contracts.
Compensation and absorption
Regarding compensation and absorption, it will not affect the structure or the amount of the professional salaries that have been received when these, as a whole and in annual computation, are higher than the SMI. To determine this comparison, the salary complements are added to the SMI fixed for this year 2024, and the result cannot be less than 15,876 euros per year. These payments are compensable with the total income that employees receive on an annual and full-time basis.
For more information, please contact Labor Consulting.
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