2010-10-04
Minimum Wage Increased by NT$ 600
An increase in the minimum wage in Taiwan has been approved by Premier Wu Den-Yih. The current minimum salary of NT$ 17,280 will be increased by NT$ 600, which is an increase of 3.47%, to NT$ 17,880. Further, the basic hourly wage will be increased from NT$ 95 to NT$ 98. This new policy will be effective from 1 January 2011.
The Council of Labor Affairs (CLA) has identified statistics showing that the minimum wage increase will benefit approximately 1,180,000 basic workers and 60,000 foreign laborers. As a result of this policy and due to the increase in the number of employees hired per year, corporations will likely incur further costs related to labor insurance, retirement funding and health insurance, which are expected to reach a total cost in excess of NT$ 100,000,000. Small and medium sized enterprises, which include supermarkets, convenience stores, wholesalers, construction companies, hairdressers and the beauty industry, will be the most affected by the increase.
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