Minimum wage 2024

effective from 1 januari 2024

𝗖𝗵𝗮𝗻𝗴𝗲 𝗶𝗻 𝗟𝗲𝗴𝗮𝗹 𝗠𝗶𝗻𝗶𝗺𝘂𝗺 𝗪𝗮𝗴𝗲 𝗲𝗳𝗳𝗲𝗰𝘁𝗶𝘃𝗲 𝗳𝗿𝗼𝗺 𝟭 𝗝𝗮𝗻𝘂𝗮𝗿𝘆 𝟮𝟬𝟮𝟰

𝗜𝗻𝘁𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝗼𝗻: Yellowstone International will always share important updates with you. This time we’d like to draw your attention to a recent change in the Minimum Wage Act that took effect on 1 January 2024. This change will have an immediate effect on the legal minimum hourly wage and affect both employers and employees in all industries.

𝗪𝗵𝗮𝘁 𝗶𝘀 𝘁𝗵𝗶𝘀 𝗰𝗵𝗮𝗻𝗴𝗲 𝗶𝗻 𝘁𝗵𝗲 𝗺𝗶𝗻𝗶𝗺𝘂𝗺 𝘄𝗮𝗴𝗲? As from 1 January 2024 employers are required by law to pay their employees at least the minimum hourly wage. One fixed minimum hourly wage applies to employees aged 21 and over, while a fixed minimum youth hourly wage applies to younger employees. Following these changes one uniform minimum hourly wage applies to employees in all industries.

𝗛𝗼𝘄 𝗺𝘂𝗰𝗵 𝗶𝘀 𝘁𝗵𝗲 𝗰𝘂𝗿𝗿𝗲𝗻𝘁 𝗺𝗶𝗻𝗶𝗺𝘂𝗺 𝘄𝗮𝗴𝗲 𝗽𝗲𝗿 𝗵𝗼𝘂𝗿? As from 2024 employees will be required to pay their employees EUR 13.27 per hour minimum.

𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗻 𝗰𝗮𝗼 (𝗰𝗼𝗹𝗹𝗲𝗰𝘁𝗶𝘃𝗲 𝗯𝗮𝗿𝗴𝗮𝗶𝗻𝗶𝗻𝗴 𝗮𝗴𝗿𝗲𝗲𝗺𝗲𝗻𝘁𝘀) 𝗮𝗻𝗱 𝘀𝗮𝗹𝗮𝗿𝘆 𝘀𝗰𝗮𝗹𝗲𝘀: The change will impact the salary scales in the cao’s. Many cao’s will have to be revised to incorporate the new legal minimum wage.

𝗛𝗼𝘄 𝗶𝘀 𝘁𝗵𝗲 𝘀𝗮𝗹𝗮𝗿𝘆 𝗰𝗼𝗺𝗽𝘂𝘁𝗲𝗱 𝗯𝗮𝘀𝗲𝗱 𝗼𝗻 𝘁𝗵𝗲 𝗹𝗲𝗴𝗮𝗹 𝗺𝗶𝗻𝗶𝗺𝘂𝗺 𝗵𝗼𝘂𝗿𝗹𝘆 𝘄𝗮𝗴𝗲: The salary can be computed for different periods, like weeks, months or four-weekly periods.

𝗖𝗵𝗮𝗻𝗴𝗲𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗽𝗮𝘆 𝘀𝗹𝗶𝗽: The pay slip must show the current legal minimum hourly wage that applies specifically to the employee’s age and the relevant period.

𝗖𝗼𝗻𝗰𝗹𝘂𝘀𝗶𝗼𝗻:
These changes will help increase transparency and equality in the wage process. We as employers face the challenge of adjusting our systems to the new rules.

Any questions, or would you like more information?
Don’t hesitate to get in touch:
info@yellowstone.nl
or give us a call 040 238 02 16