COST OF LIVING/Cabinet approves draft minimum wage bill
Taipei, Sept. 21 (CNA) Taiwan's Cabinet on Thursday approved a draft national minimum wage bill that proposes using the consumer price index (CPI) as a reference for adjusting minimum pay, and it also plans to fine employers who violate the law.
Under the draft bill proposed by the Ministry of Labor, a review committee will be established to develop a minimum wage adjustment plan.
The committee will comprise representatives of employees, employers, and government, as well as scholars and experts, who will meet in the third quarter of each year to review the minimum wage and recommend possible adjustments, taking into consideration the annual CPI growth.
In addition, the committee will take into account other economic indicators such as the annual growth of labor productivity and average wages, national economic development, national and per capita income, gross domestic product, producer price index, the development of various industries and employment, wages of workers in various industries, family income and expenditure, and minimum living expenses, according to the bill.
Meanwhile, an interdisciplinary research team comprising scholars, experts, and representatives of relevant government agencies will be assembled to report on the effects of minimum wage adjustments on the economy and employment, and their report will be submitted to the review committee in April each year.
The team will also recommend any minimum wage adjustments at least 30 days before the review committee meets, according to the draft bill.
If the draft bill is passed in the Legislature, where it will be sent soon, employers who violate the law will be subject to fines ranging from NT$20,000 (US$623) to NT$1.5 million, their names will be published, and they will be required to get in line with the regulations within a mandated period of time.
- Taiwan's annual average wage rises to eight-year high: Job bank surveyThe average annual salary for full-time employees in Taiwan reached an eight-year high of NT$694,000 (US$22,242) this year, with wages in the semiconductor sector topping all ...11/29/2023 08:30 PM
- Taiwan to raise tax exemption, deduction thresholds in 2024Taiwan's individual income tax exemptions and standard tax deductions are to be raised in 2024, in time for the tax season in May 2025, the Ministry of Finance (MOF) announced on ...11/23/2023 08:56 PM
- Cabinet approves rent subsidy program for college students living in dormsTaiwan's cabinet approved a five-year program on Thursday to subsidize rent paid by college students living in dorms starting February 2024.11/23/2023 04:20 PM
Station staff had 15 seconds to stop fatal Taichung MRT crash: Report11/29/2023 11:12 PM
2023 HIV cases likely to dip below 1,000, first time in 20 years: CDC11/29/2023 10:26 PM
- Science & Tech
French office to hold talk in Hsinchu to celebrate female scientists11/29/2023 10:15 PM
International carbon credits to be available next month: TCX11/29/2023 09:54 PM
Taiwan's presidential hopefuls pledge to boost minimum monthly wage11/29/2023 09:49 PM