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Mexican Minimum Wage Calculations


 

Pesos

Minimum Wage Daily

$49.06

 

 

Salary Composition

 

Base Annual Salary (min. wage 365 days)

$17,906.90

Christmas Bonus (15 days min. wage)

$735.90

Profit Sharing (12 days per year)

$588.72

Total Salary

$19,317.37

 

 

Taxes and Required Fringe Benefits

 

Paid by Employer

 

5% Housing

$965.87

2.08% State and University

$401.80

Social Security

$4,442.99

2% Retirement Fund (SAR)

$386.35

Total Taxes

$6,197.01

 

 

Additional Fringe Benefits

 

Savings Fund (10%)

$1,931.74

Cafeteria

$4,790.48

Transportation

$1,845.84

Uniforms

$224.64

Attendance Bonus

$1,123.86

Food Bonus

$5,158.48

Total Benefits

$21,272.05

 

 

Total Cost of Min Wage Employees w/ benefits per year

$40,589.42

Note: $40,589.42 pesos per year equates to $3,721.75 US dollars.


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