Legislative Yuan passes minimum wage bill

Taipei, Dec. 12 (CNA) The Legislative Yuan on Tuesday gave the green light to a proposed minimum wage act, which stipulates that minimum wages in Taiwan should be adjusted in line with the annual rise of the consumer price index (CPI).

The new law also stipulates that wages decided during negotiations between employers and workers must not be lower than the minimum wage, with companies violating the rule being subject to a fine of up to NT$1.5 million (US$47,600).

The new law covers six key areas, including the establishment of a minimum wage review committee, indices adopted as a reference for wage adjustment plans, and the formation of a research panel.

The others are regulations related to review procedures, procedures to determine minimum wages, and penalties.