From February, the minimum wage will increase to 167,400 HUF gross

By: Trademagazin editor Date: 2021. 01. 27. 11:20

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From February 1, the gross value of the minimum wage will increase to 167,400 HUF and the gross value of the guaranteed minimum wage to 219 thousand HUF, which means a wage increase of almost 4 percent, said the State Secretary for Employment Policy of the Ministry of Innovation and Technology (ITM) at a press conference in Budapest.

Bodó Sándor added: the wage agreement also stipulates that if the social contribution tax (szocho) on employers decreases from the current 15.5 percent to 13.5 percent during the year, the minimum wage will automatically be 169 thousand HUF gross per month, while the guaranteed minimum wage will be gross increases to 221,100 HUF. (MTI)