Is over 1.1 billion euros the cost of increasing minimum wage 6% (which comes into force on April 1) on an annual basis, in accordance with the relevant decision of the Ministry of Labor, Niki Kerameos.
In detail, the Ministerial Decision that enters the effect of 6% in the minimum wage states that “the fact that the provisions hereof does not cause expenditure at the expense of the state budget but an increase in revenue in the E-EFKA, EOPYY and DBA estimated € 186,17 million.
According to data from the current state of the ERGANI, a total of 2,861,242 employees and craftsmen, with a different employment regime (full/partial/rotation), 32.33% is paid up to the amount of the new minimum wage or wage.
Also, according to E-EFKA, for each percentage point (1%) of the minimum wage increase, insured earnings are increased by approximately € 140 cm on an annual basis.
The increase in minimum wage and minimum wage at 6.02%, ie from 830 euros to 880 euros and from 37.07 euros to 39.30 euros respectively, with an average contribution rate of 35.16%, for 14 months, leads In an annual increase in insurable earnings by EUR 842.8 million and consequently to Estimated annual increase in revenue of the above bodies of EUR 296.33 million. “
The amount of EUR 842.8 million to increase ‘Insurance earnings’ (that is, the salaries of employees on which insurance contributions are imposed) of the minimum wages, as well as their additional contributions of € 296.3 million, will be paid by businesses to employees and insurance funds respectively. So the total additional costs for businesses will amount to € 1,138 billion.
According to the Kerameos Ministerial Decision, “it is also caused by the expense of the budget of the above bodies (E-EFKA, EOPYY and DBA), from the increase in the amounts paid for unemployment benefit and those allowances linked to the minimum wage or salary, estimated 110, 16 million euros.as well as an increase in the costs of employment programs linked to the minimum wage or a salary, which cannot be calculated as it depends on the number of programs, the number of beneficiaries and the duration of each program. “