The new Interprofessional Minimum Wage (SMI) in Spain has been set at 16,576 euros gross per year, which is equivalent to 1,184 euros gross per month in 14 payments, starting from February 12, 2025. This 4.4% increase from the previous year has retroactive effects from January 1, leading to a significant shift in the labor landscape for companies and workers. The implementation of this new measure poses significant challenges in terms of adaptation and regulatory compliance.
Valoira Abogados, a law firm specializing in Labor Law, has issued recommendations to facilitate the correct application of the new SMI. They emphasize the thorough review of contracts and salary tables to ensure that employees receiving the minimum wage are properly remunerated. They also underline the importance of ensuring that the salary structure does not include extra-salary concepts, such as allowances or transportation bonuses, which could lead to confusion in salary calculations.
Furthermore, the increase in the SMI directly impacts the minimum contribution bases, prompting companies to review their contributions to Social Security to avoid discrepancies in payroll management. In the case of part-time contracts, experts emphasize the need to calculate the salary proportionally to the new regulations to prevent potential wage claims.
Companies must carefully assess the financial impact that this rise in the SMI will have on their cost structure, especially in sectors where a large percentage of the workforce receives base salaries. Valoira Abogados also warns that the Labor Inspection and Social Security will intensify their monitoring of compliance with the new SMI, adding another level of urgency for companies to correctly update salaries and minimize the risk of penalties and labor disputes.
This regulatory change not only poses a challenge for companies, but also underscores the need for specialized advice to properly adapt to the new legislation. With over three decades of experience and offices in Barcelona, Madrid, and Palma de Mallorca, Valoira Abogados is poised to offer personalized solutions, helping companies and professionals comply with new regulations and manage potential labor conflicts efficiently, maintaining a strategic and legally aligned approach.
via: MiMub in Spanish
