Spain: Published the minimum interprofessional salary (SMI) for 2024
The Royal Decree, effective 1st January, increases the SMI by 5%, to 1,134 euros per month.
Royal Decree 145/2024, of 6th February, which sets the SMI for 2024, has been published in the BOE.
The SMI is increased by 5 % with respect to the applicable for 2023, being fixed as of 1st January 2024 at the following amounts:
In the minimum wage, only the remuneration in cash is computed, without the salary in kind being able, in any case, to give rise to its reduction.
The revision of the minimum salary will not affect the structure or the amount of the salaries received by the employees when such salaries as a whole and in annual computation are higher than the minimum salary. These perceptions are compensable with the income that for all the concepts the employees were receiving in annual computation and full working day in accordance with legal or conventional norms, arbitration awards and individual employment contracts in force.
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