Analytics, Financial Services, Legislation, Lithuania, Wages

International Internet Magazine. Baltic States news & analytics Monday, 24.11.2014, 04:39

Lithuanian minimum monthly wage is raised to EUR 246

Danuta Pavilenene, BC, Vilnius, 01.08.2012.Print version
From Wednesday 2012 minimum monthly wage (MMW) will increase by LTL 50 (EUR 14.48) and in total it will reach 850 litas (EUR 246).

The Government confirmed this on the 20th of June. Also the minimum hourly wage of LTL 5, 15 (EUR 1, 49) was provisioned, writes LETA/LETA.

 

Along with the increasing MMW under the Government's decree the lowest official salary rates of all categories staff will also be changed.

 

Social Security and Labor Ministry report states that the increase of minimum monthly salary to 850 litas (EUR 246) will affect more than 200,000 employees, including 38,000 employees of budgetary institutions.

 

Due to the raised MMW the compulsory health insurance contributions were also increased from LTL 72 (EUR 21, 85) to LTL 77 (EUR 22, 3).

 

Statistics Lithuania reports that in October 2011, the number of employees who had earned a minimum monthly wage (MMW) accounted for 20.8 percent of employees.

 

Lithuanian Labor Code stipulates that the employee's hourly wage or monthly salary can not be lower than the provisioned minimum rates.






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