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Nairaland Forum / Nairaland / General / Career / Does New Minimum Wage Affect All Salary Earners? (42509 Views)
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Re: Does New Minimum Wage Affect All Salary Earners? by Mcanie: 10:59am On Apr 20, 2019 |
All the people ranting here and forming ITK, when the salary structure is implemented and they found out they were hitherto wrong, would rather go dumb than apologize for misleading the public. It is more honourable to be silent in matters you know nothing about or you aren't sure of than spew out something that will tell negative of your person in future. 3 Likes |
Re: Does New Minimum Wage Affect All Salary Earners? by Gforce2019: 10:59am On Apr 20, 2019 |
mistacoco2: If you ask me.... Nah who I go ask? 1 Like 2 Shares |
Re: Does New Minimum Wage Affect All Salary Earners? by PrincewithGod(m): 11:04am On Apr 20, 2019 |
Acidosis:I think you are mistaken bro. The minimum wage is the benchmark for all salaries e.g, in the civil service, it is salary of a Level 1 Step 1 officer and all other levels and steps are calculated based on it using the relativity policy, though the proportion of increase might not be the same across board. 4 Likes |
Re: Does New Minimum Wage Affect All Salary Earners? by ainas247: 11:05am On Apr 20, 2019 |
abdeiz: It would be hard, they might pay or delay it if the coy is good |
Re: Does New Minimum Wage Affect All Salary Earners? by PrincewithGod(m): 11:13am On Apr 20, 2019 |
daddy001:Don't mind that guy. There are so many of these negative persons on this thread who have little or no knowledge about the concept of minimum wage and they're trying so hard to force their ignorance down our throats. |
Re: Does New Minimum Wage Affect All Salary Earners? by PrincewithGod(m): 11:15am On Apr 20, 2019 |
omonla10:Is that EBA and efo riro? nice. |
Re: Does New Minimum Wage Affect All Salary Earners? by PrincewithGod(m): 11:16am On Apr 20, 2019 |
klas:Gbam! You have said it all. |
Re: Does New Minimum Wage Affect All Salary Earners? by mechanics(m): 11:16am On Apr 20, 2019 |
Theirs won't be increased. |
Re: Does New Minimum Wage Affect All Salary Earners? by BrokenCock: 11:20am On Apr 20, 2019 |
klas: Yeah, it was well explained in our acct dept. There will be an increase in all levels. To my understandinge a staff presently receiving 100k will now start having 130k |
Re: Does New Minimum Wage Affect All Salary Earners? by sim12: 11:37am On Apr 20, 2019 |
How to calculate ur new salary, for example, if u are receiving 50k when is 18 k how much will u take when is 30k. Make X the subject of d formula |
Re: Does New Minimum Wage Affect All Salary Earners? by LZAA: 11:38am On Apr 20, 2019 |
buygala: 1 Like
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Re: Does New Minimum Wage Affect All Salary Earners? by gold360(m): 11:44am On Apr 20, 2019 |
BrokenCock:don't mind guys here, they won't keep mute if they don't have anything to say. Fact: minimum wage will cut across board. A staff on level 3 that has been receiving 30k will not be lumped together with a level 1 and 2 staff that have been receiving 18k and 26k respectively, where is the justice in this. ? For people presently earning higher than 30k, their new pay will be calculated by using only their basic salary (you can get your basic salary from your payslip) to divide the last minimum wage of 18k then multiply the result By the present 30k minimum wage, after which, you now add other allowances such as housing medical, transportation and others 2 Likes |
Re: Does New Minimum Wage Affect All Salary Earners? by engrzico(m): 11:47am On Apr 20, 2019 |
will this also affect firms whose staff get a basic salary of 9,500, but with added allowance take home 75k . |
Re: Does New Minimum Wage Affect All Salary Earners? by UcLloyd: 11:51am On Apr 20, 2019 |
Acidosis: Oga u don't know anything, nada. 67% is for every grade level. Add 67% of ur current salary to your salary, that's ur new salary. U guys will be saying what u know nothing about. Don't forget the higher ur grade level, the higher ur tax rate. |
Re: Does New Minimum Wage Affect All Salary Earners? by gold360(m): 11:57am On Apr 20, 2019 |
mistacoco2:whether it reflects when supplementary budget has been passed or not, the important thing is that it has been signed into law and has taken effect, even if your employer delays its payments. It's increment will be owed in arrears to the employee 1 Like |
Re: Does New Minimum Wage Affect All Salary Earners? by UcLloyd: 11:58am On Apr 20, 2019 |
BrokenCock: 100k will be 167k. Don't forget tax is included in the 67% increment 3 Likes |
Re: Does New Minimum Wage Affect All Salary Earners? by ejimatic: 12:13pm On Apr 20, 2019 |
ETHIX:. You have just explained what NLC is fighting for.This is the position of the NLC.... |
Re: Does New Minimum Wage Affect All Salary Earners? by chukzyfcbb: 12:20pm On Apr 20, 2019 |
This debate about if % increase cuts across all levels was what Ngige used to floor Obiano in one of Anambra Gubernatorial election. Obiano said at the debate that the % increase would only affect the level 1 guys but Ngig being a former governor came and cleared the air. Ngige said minimum wage isn't just for Level 1 staffs that it will go across all the levels. He made Obiano look like a rookie in governance matters after his explanation. Chants of Onwa Onwa filled the room afterwards for his clear explanation on minimum wage Ever since I have always learnt that minimum wage is not just for cleaners level alone, even those on 200k will experience an increase. Except there is a clause that says those earning huge will not experience 66% like those on the lower cadre, I still stand with that debate Ngige had over Obiano. The increase will be UNIFORM across all levels, unless otherwise stated in the LAW... 3 Likes |
Re: Does New Minimum Wage Affect All Salary Earners? by urose93(f): 12:30pm On Apr 20, 2019 |
Acidosis: Bros, no be today we start dey hear of minimum wage Nah? Abi 'next level' own dey different? Hmm, you obviously don't much about minimum wage. 1 Like |
Re: Does New Minimum Wage Affect All Salary Earners? by masseratti: 12:41pm On Apr 20, 2019 |
Amitez:it shouldnt be that way, they did it that way during the last minimum wage and it plunged the economy into recession /inflation. If they want to do it right, anyone already earning 30 should not av more than 2k added, everyone under 30k should be paid 30k minimum wage and the rest stay on your lane or increase it in a way that it won't mess up the economy, what they did the lady time was to compute it with the % increase from 7500 to 18000 on all salary structures, that plunged Gej government into debt, what got me off balance then was that this all happened under a professor and a former world Bank chief, how she let that escape her still baffles me, it's the most simple economics, no where in the world is salary increased like that base on minimum wage, no where. |
Re: Does New Minimum Wage Affect All Salary Earners? by masseratti: 12:46pm On Apr 20, 2019 |
chukzyfcbb:no where in the world has that a normally happened before except for Nigeria during Gej regime, and it messed up his government, Gej could av done more if those money was available, but alas we increased minimum wage on all level with the same %, if anyone of them owned a business would they increase their staff salaries based on %? Obiano has a season banker and an economist was actually right, Ngige is a medical doctor and a politician, those who clapped for him did so on ignorance, if this government increases bases on % on all level we are in for a disaster. 1 Like |
Re: Does New Minimum Wage Affect All Salary Earners? by urose93(f): 12:51pm On Apr 20, 2019 |
sim12: lets go 18k was the basic now 30k is the basic 30 minus 18 = 12k therefore % increase = 12/18*100 =66.67% With 50k salary earner 66.67/100*50,000 =33,000k New wage will be 50k+33k 83k There are other ways of calculating it though using just the basic 6 Likes 1 Share |
Re: Does New Minimum Wage Affect All Salary Earners? by kelvinnaira: 1:08pm On Apr 20, 2019 |
buygala:my friend, are you a lawyer? If yes, then I shame for you.. Come and lemme show you a fellow lawyer who has 1 of every luxury car in Ng right now.. You cant be a lawyer and be doing 20K monthly.. When the least if my staff gets over 40K. No lie again ibeg.. |
Re: Does New Minimum Wage Affect All Salary Earners? by shugabasbn: 1:18pm On Apr 20, 2019 |
Everything will be skyrocketing with this minimum wage issues. What is the purpose of collecting #400k and u can't save #30k all because of the cost of the commodities. |
Re: Does New Minimum Wage Affect All Salary Earners? by Honor10: 1:37pm On Apr 20, 2019 |
Acidosis: chai! and u are spewing thrash with confidence. The increase will reflect across all the salaries for all government workers just that the increase decrease as the grade increase. 1 Like |
Re: Does New Minimum Wage Affect All Salary Earners? by iscom(m): 1:49pm On Apr 20, 2019 |
Josephamstrong1:You get it all. 30k minus 18k equal to 12k across all salary earners. |
Re: Does New Minimum Wage Affect All Salary Earners? by Nobody: 1:57pm On Apr 20, 2019 |
Zombiekiller010: Yes.... As confirmed by DG yesterday and beginning from this month April |
Re: Does New Minimum Wage Affect All Salary Earners? by AbrahamIsrael: 2:01pm On Apr 20, 2019 |
The basic in your salary is a product of minimum wage. Your current basic, from which other items of your salary is computed, is a product of minimum wage. Now that minimum wage of Nigeria has gone up from N18,000 to N30,000, that is approximately 67% increase of your current salary, it then means that your basic from which other items of your salary is computed will be adjusted to reflect the minimum wage. In short, multiply your salary by 1.67 to get your new salary based on the new minimum wage. 30,000/18,000 ×100=66.66667 ~67. Do not let your employer deceive you o. 1 Like |
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