Substantive Labour Code, 1950, Colombia (Minimum Wage)

Substantive Labour Code 1950: Section 134-140; 149-153 (Minimum Wage)

The value of Colombia’s current monthly legal minimum wage (S.M.L.M.V) is established every year and defines the minimum salary a person can receive for the work they undertake.

Both parties can also agree on additional benefits that are not constitutive of salary, which may include food, clothing or extralegal bonuses. For these benefits to be considered constitutive of salary, they cannot be a direct compensation for the services the employee provides. Bonuses and commissions based on complying with individual goals are, therefore, mandatorily treated as salary payments.

Similarly, workers who earn up to twice the legal minimum wage, regardless of their nationality, must receive transportation assistance and a supply of clothing and footwear suitable for the type of work they undertake.

In Colombia, there is a Legal Minimum Wage in Force (SMLMV) that is agreed upon annually between the government, employee labor unions, and employer unions or is established by a governmental decree. The SMLMV for 2022 is COP 1,000,000 (approximately USD 256; USD 1 = COP 3,915).