On 26 May 2022, Law No. 21,456 came into effect (the Law). Under the Law, several changes were made to the minimum legal wage. The first was applied on 1 May 2022. A second update came into effect on 1 August, increasing the minimum wage to $400,000 Chilean pesos. In addition, the Law provides that in April 2023 the President will send a bill to readjust again the minimum monthly wage to be applied in May 2023.
Key Action Points for Human Resources and In-house Counsel
Since 1 August 2022, the minimum monthly income for employees over 18 years of age and up to 65 years of age increased to $400,000 Chilean pesos.