Africa-Press – Cape verde. The National Institute of Social Security (INPS) increased the contributory base due to the increase in the national minimum wage, which went from 13 thousand escudos to 14 thousand escudos in January 2023.
In a statement addressed to taxpayers and policyholders, the INPS adds that due to the change in the minimum monthly remuneration guaranteed to employees, subject to the labor code regime since January 2023, as governed by the State budget law, the base of contributory incidence increased to 14 thousand escudos.
“This means that, from now on, the minimum remuneration on which Social Security discounts apply will go from 13 to 14 thousand escudos”, says the statement.
According to INPS calculations, in the general regime with the minimum remuneration, the employer starts to contribute with 2,240 escudos corresponding to 16% of the salary and the worker with 1,190 escudos equivalent to 8.5%, totaling 3,430 escudos representing 24.5%.
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