2024 minimum wage adjustment has been issued

New amount takes effect on January 1

In an extra edition of the Official Gazette of December 27, the Federal Government issued Decree No. 11,864/2023, defining the new national minimum wage, which will be effective starting January 1, 2024. With this regulation, the amount increased from BRL 1,320.00 to BRL 1,412.00 (one thousand four hundred and twelve Brazilian reais) .

The decree has also established that the daily and hourly rates of the minimum wage will correspond to BRL 47.07 (forty-seven reais and seven cents) and BRL 6.42 (six reais and forty-two cents), respectively.

The government has also disclosed that the new minimum wage, which reflects a 6.97% rise compared to the previous one, incorporates a 12-month inflation rate of 3.85% (up to November) and a real gain of 3%, pertaining to an increase in the Gross Domestic Product (GDP) in 2022.

Compliance assured

The team of experts at Domingues e Pinho Contadores stays abreast of the latest regulations, ensuring full compliance for its clients. You can rely on our support: dpc@dpc.com.br.