What is the minimum wage enough for? The government has announced the amount of the minimum wage for 2024, as well as the minimum hourly, daily and weekly wages

The minimum wage was announced. Employers and employees have agreed on the rate of increase of the minimum wage in 2024: thus, the minimum wage that can be given will be HUF 266,800 gross. Next year’s minimum wage is valid a little earlier, from December 1 this year.

The decree was published in the Monday evening issue of the Magyar Közlöny, and with this it became official the extent to which the minimum wage and minimum wage will increase from 2024. The change actually comes into effect a month earlier, in December.

The scope of the new regulations signed by Viktor Orbán covers all employers and employees. The minimum wage for full-time employees from December 1, 2023

266,800 when applying a monthly salary,

61,340 for weekly wages,

12,270 for a daily wage,

1,534 forints when using an hourly wage.

The guaranteed minimum wage established as a basic wage for those employed in positions requiring at least a secondary education or professional qualification in the case of full-time work from December 1, 2023

326,000 for monthly salary,

74,950 when using a weekly wage,

14,990 in the case of a daily wage,

1,874 forints per hour.

These gross amounts must first be calculated for wages due in December 2023.

In the case of allowances and subsidies tied to the amount of the minimum wage or the guaranteed minimum wage (this does not include the budgetary support provided on the basis of the law for the operation of institutions and the provision of services), benefits until January 1, 2024, the decree in force until November 30, 2023, i.e. the 232 thousand minimum wage and the guaranteed minimum wage of 296 thousand are authoritative.

In the regulation signed by Viktor Orbán, the minimums for performance pay were fixed, as well as the fact that those who work part-time must receive amounts similar to the above “proportionately reduced by the different amount of working time”.

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