In accordance with Section 113 (1) (a) of the Labour Act, 2003 (Act 651), the National Tripartite Committee revised the National Daily Minimum Wage (NDMW) to GH₵14.88 pesewas.
The new minimum wage will be implemented on January 1, 2023. The Committee reached its decision following a meeting on Wednesday, November 16, 2022.
The Tripartite Committee stated that in determining this new wage, it considered present economic challenges, cost of living, company viability, and the objective of achieving a higher level of employment, as well as the necessity for speedy restoration of macroeconomic stability.
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“An increase in the NDMW by 10% over the 2022 NDMW which translates into a new NDMW of GH₵14.88; and a Cost-of-Living Allowance (COLA) of 15% over the 2023 NDMW,” the Committee said in a communique issued on Wednesday.
It also suggested that the new minimum wage be tax-free. All institutions or organizations that violate the amended wage will be sanctioned in accordance with the legislation, beginning in January 2023.
Previously, the daily minimum wage was GH¢13.53 pesewas.
SOURCE: myjoyonline
