Increases to minimum salary and wages, pension contributions, and unpaid leave subsidies are part of several changes effective January 1 according to a Labor Ministry announcement on Wednesday.
The minimum monthly salary amount will be adjusted from NT$26,400 to NT$27,470 (US$864 to US$899) and the minimum hourly wage from NT$176 to NT$183 (US$5.76 to US$5.99). Labor standards laws will also become applicable, ensuring proportional overtime pay should normal working hours be exceeded. In addition, workers who are put on unpaid leave in the first half of 2024 can apply for a salary subsidy.
The Bureau of Labor Insurance confirms that pension contributions for responsible workers and farmers will also be increased. For farmers who choose to put 10% of their earnings into retirement, the government will adjust their contribution accordingly. Those 64 years old or above can then claim pension funds.