On January 1, 2023, the Daily Minimum Wage was raised to GHS14.88p.
The previous GHS12.53p, which went into effect in June 2021, has been increased to this amount.
A “15 percent cost of living allowance over the 2023 NDMW” will also be provided.
According to a statement released following a meeting of the National Tripartite Committee (NTC) on Wednesday, 16 November 2022, the new minimum wage was determined taking into account “current economic challenges, cost of living, sustainability of businesses, and desirability of attaining a high level of employment, as well as the need for rapid restoration of macroeconomic stability.”
The NTC suggested that the NDMW be exempt from tax.
The NTC advised businesses not to pay their employees less than the minimum wage.
Additionally, it instructed businesses paying workers less than the minimum wage to evaluate it and update it to reflect the 10% rise.
Organizations who disregard the new Minimum Wage starting in January will face consequences.
Source: newsthemegh.com