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The Wage Rationalization Act, or Republic Act 6727, was enacted in 1989 and it is the ruling law regarding minimum wage rates. It established the National Wages and Productivity Commission which has supervision over Regional Tripartite Wages and Productivity Boards, which ultimately decide on minimum wage rates.
Article 99 of the Labor Code of the Philippines stipulates that an employer may go over but never below minimum wage. Paying below the minimum wage is illegal. [10] The Regional Tripartite Wages and Productivity Boards is the body that sets the amount for the minimum wage. In the Philippines, the minimum wage of a worker depends on where he works.
A The adult minimum wage applied to persons aged 20 and over until 5 March 2001. [54] Since then, the adult minimum wage has applied to persons aged 18 and over. [53] B From 5 March 2001, the minimum youth rate applied only to workers aged 16 or 17-years-old. [53]
The federal minimum wage has been stuck at $7.25 since 2009, not even close to the buying power it once brought workers — which peaked all the way back in the 1960s.
State legislatures have responded across the nation, and currently, 21 states are slated to put 2017 minimum wage increases into effect.
That’s a loss of $3,000 in annual earnings for full-time minimum wage workers. Since reaching its buying power peak in 1968, the minimum wage has lost 31% in purchasing power.
The exemption for minimum wage earners is retained in the revised tax system. Tax rates for individual taxpayers still follow the progressive tax system [ 6 ] with the maximum rate of 35%, and minimum rates of 20% (taxable years 2018 to 2022) and 15% (2023 onwards).
However, the city of Portland will increase its minimum wage to $13, $14 and then $15 at the beginning of 2022, 2023 and 2024, respectively. And that is not the only caveat to state minimum wage laws.