{"id":3755,"date":"2024-04-16T23:11:06","date_gmt":"2024-04-16T23:11:06","guid":{"rendered":"https:\/\/riad-riad.com\/?p=3755"},"modified":"2024-04-17T22:16:37","modified_gmt":"2024-04-17T22:16:37","slug":"egypt-raises-minimum-salary-of-for-private-sector-by-60","status":"publish","type":"post","link":"https:\/\/riad-riad.com\/egypt-raises-minimum-salary-of-for-private-sector-by-60\/","title":{"rendered":"Egypt Raises Minimum Salary of For Private Sector by 60%"},"content":{"rendered":"\n
For the third time during the last couple of years, the Egyptian National Council for Salaries (\u201cCouncil<\/strong>\u201d) decided an approximate 60% increase in the minimum salary of private sector employees.<\/p>\n\n\n\n Minimum Salary as of 1st<\/sup> of May 2024<\/strong><\/strong><\/p>\n\n\n\n The Egyptian Minister of Planning and Economic Development issued Decree No. 27 of 2024 (\u201cDecree<\/strong>\u201d) setting that the minimum salary of private sector employees at EGP 6,000\/per month (USD 126.5) starting from the 1st<\/sup> of May 2024.<\/p>\n\n\n\n Micro-enterprises with no more than ten (10) employees are excluded from the implementation of this minimum salary increase.<\/p>\n\n\n\n Social Insurance Contributions are part of <\/strong>the <\/strong>Minimum Salary <\/strong><\/strong><\/p>\n\n\n\n As per the Decree, the minimum salary includes all basic and variable salary elements such as profit share, allowances, bonuses, incentives, in-kind benefits\u2026etc.<\/p>\n\n\n\n For the first time, the minimum salary shall also include employer\u2019s share in the social insurance monthly contributions.<\/p>\n\n\n\n Guidelines and Sanctions<\/strong><\/strong><\/p>\n\n\n\n As per the guidelines issued by the Minister of Manpower:<\/p>\n\n\n\n Exemptions<\/strong><\/strong><\/p>\n\n\n\n Companies which cannot pay the minimum salary due to economic difficulties can submit an exemption request by no later than 15 May 2024.<\/p>\n\n\n\n The applicant employer must submit the exemption request to the relevant labor union and the latter will submit it on behalf of the employer to the Ministry for\u00a0a decision. Collective\/group exemption requests submitted by industrial or business sectors will not be accepted.<\/p>\n\n\n\n The request shall satisfy the following conditions:<\/p>\n\n\n\n For any inquiries, please contact Dr. Eman Riad<\/a> and Hania Salama<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" For the third time during the last couple of years, the Egyptian National Council for Salaries (\u201cCouncil\u201d) decided an approximate 60% increase in the minimum salary of private sector employees. Minimum Salary as of 1st of May 2024 The Egyptian Minister of Planning and Economic Development issued Decree No. 27 of 2024 (\u201cDecree\u201d) setting that … Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":3763,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[32,33],"yoast_head":"\n\n
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