10th of January 2023
Amendment to Minimum Wage and Annual Increase in Private Sector
Keywords: Employment
The Ministry of Planning and Economic Development Decree no. 103/2022 (the “Decree”) was issued on 28 December 2022 in order to increase the minimum wage for private sector employees from EGP 2400 to EGP 2700 effective as of 1 January 2023.
In addition, the Decree stipulates that private sector employees are entitled to an annual salary increase of 3% of the Insurable Salary (currently capped at EGP 10,900) with a minimum increase of EGP 100.
In addition, the Decree stipulates that private sector employees are entitled to an annual salary increase of 3% of the Insurable Salary (currently capped at EGP 10,900) with a minimum increase of EGP 100.
Amendment to Minimum Wage and Annual Increase in Private Sector
10th of January 2023
Keywords: Employment
The Ministry of Planning and Economic Development Decree no. 103/2022 (the “Decree”) was issued on 28 December 2022 in order to increase the minimum wage for private sector employees from EGP 2400 to EGP 2700 effective as of 1 January 2023.
In addition, the Decree stipulates that private sector employees are entitled to an annual salary increase of 3% of the Insurable Salary (currently capped at EGP 10,900) with a minimum increase of EGP 100.
In addition, the Decree stipulates that private sector employees are entitled to an annual salary increase of 3% of the Insurable Salary (currently capped at EGP 10,900) with a minimum increase of EGP 100.
