Nigeria: National Minimum Wage 2024 Update

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• Madagascar | How to add multiple minimum wage rates for the statutory Health Organizations calculation

  Scenarios can arise where the requirement for different minimum wage rates are applicable in different sectors and industries. To add minimum wage rates other than the system default rate users can navigate to Config > Basic Settings > Dropdown ...

• Should the wage regulating measure or the national minimum wage be applied to employees when calculating ETI?

  The higher of the Wage Regulating Measure or the National Minimum Wage Rate should be applied as the ETI minimum wage. Note! The employee must earn at least the minimum wage as specified by the higher of the National Minimum Wage Act OR a wage ...

• Nigeria: National Minimum Wage (Amendment) Act, 2024

  On 29 July 2024, President Bola Tinubu, signed the National Minimum Wage (Amendment) Bill, 2024 into law. This amendment introduces the following changes: The national minimum wage has been raised from NGN 30,000 to NGN 70,000. The frequency of ...

• How do I configure the ETI Minimum Wage Rate Per Hour component?

  This feature is available on all PaySpace editions The ETI Minimum Wage Rate Per Hour component has to be setup on company level to indicate the minimum wage applicable to the employee as per the national minimum wage or a wage regulating measure. ...

• If the ETI Minimum Wage Rate per Hour component is configured on company level, will the system automatically initiate the ETI calculation on employee level?

  No. If the ETI Minimum Wage Rate per Hour component is configured on company level, but not employee level, the system will not initiate the ETI calculation in the background. Navigate > Employee > Payroll Processing > Recurring Payroll Components > ...