The Government set the value of the monthly legal minimum salary and the monthly legal transportation allowance that will enter in force for the year 2022, through Decrees 1724 and 1725, 2021. Both the minimum salary and the transportation allowance had an increase of 10.07% and were established as follows:
- Current monthly legal minimum salary: COP 1,000,000
- Legal transportation allowance: COP 117,172
Actions to follow
- Adjust payroll systems, as well as the basis for the payment of contributions to the Comprehensive Social Security System and payroll taxes, to include in them the new current values of the monthly legal minimum salary and transportation allowance.
- Adjust the minimum integral salary of employees who earn integral minimum salaries. Under the modality of integral salary, no employee can be below the minimum amount (thirteen monthly legal minimum salaries).
- Take into account the new minimum salary at the time of engaging personnel and agreeing with them salary as integral.
- Keep in mind the change in relation to payments related and tied to salary.
Impact on other values
The increase in the minimum salary has an impact on the following values for year 2022:
- Nominal increase in the legal minimum salary: COP 91,474.
- Nominal increase in transportation aid: COP 10,718.
- Minimum integral salary: COP 13,000,000.
- Daily minimum legal salary: COP 33,333.
- Legal minimum salary value per ordinary hour: COP 4,167.
- Legal minimum salary value per day overtime hour: COP 5,209.
- Legal minimum salary value per night overtime hour: COP 7,292.
- Legal minimum salary value per ordinary hour with night surcharge: COP 5,625.
The percentage of contribution in health and pensions for employees will continue to be the same for year 2021. That is, 12.5% for health (8.5% paid by the employer - when applicable - and 4% paid by the employee) and 16% for pensions (12% paid by the employer and 4% paid by the employee).
Employees who earn a salary equivalent to or greater than four legal monthly minimum salaries (COP 4,000,000 for 2022) must contribute to the solidarity fund an amount equivalent to 1% of the base contribution income. Workers whose salaries are equal to or greater than 16 legal monthly minimum salaries (COP 16,000,000 for 2022) will have an additional contribution that varies between 0.2% and 1% according to the monthly amount of their salary.
The Comprehensive Social Security System must be quoted on a base contribution income equivalent, at least, to the current monthly minimum legal salary and, at most, to 25 current monthly legal minimum salaries (COP 25,000,000 for 2022). Payroll taxes still do not have a maximum contribution base.