"In addition, around 1.5 million full-time wage and salary workers earning above the minimum wage may indirectly benefit due to upward adjustments at the enterprise level resulting from the correction of wage distortion," according to the statement released by the Department of Labor and Employment (DOLE).
The Wages and Productivity Board approved an increase of P40.00 to the daily wage of workers, leading the current P570.00 daily wage to become P610.00.
For those in the agricultural sector, service and retail establishments, whose employees are 15 or fewer, as well as for manufacturers with less than 10 employees, their daily minimum wage will become P573.00, up from P533.00.
The new daily minimum wage rates represent a 7% increase from the current rates in the region, and are higher than the regional poverty threshold of P452 per day for a five-member family, according to DOLE.
"These also result in a comparable 7% increase in wage-related benefits covering the 13th-month pay, service incentive leave (SIL), and social security benefits such as SSS, PhilHealth, and Pag-IBIG," DOLE added in their released statement.
Meanwhile, retail or service establishments that regularly maintain no more than 10 workers and companies affected by natural or man-made calamities may apply for an exemption from the said wage increase.
