| Mexican
Minimum Wage Calculation |
|
Pesos |
U.S.
Dollars |
|
|
|
|
|
|
| Minimum Wage/daily |
$
46.80 |
4.25 |
| Salary Composition |
|
|
| Base annual salary (minimum wage 365 days) |
$ 17,082.00
|
$1,552.90
|
| Christmas bonus (15 days minimum
wage)
|
$
702.00
|
63.81 |
| Vacation bonus (25% of 7 days x minimum
wage)
|
$
81.90
|
7.44 |
| Profit sharing (12 days per
year)
|
$
561.60
|
51.05 |
| Total Salary
|
$ 18,427.50 |
$1,675.22
|
| Taxes and Required Fringe
Benefits Paid by Employer |
|
|
| 5%
housing
|
$
921.37
|
$83.76
|
| 2.08% state and
university
|
$
355.30
|
32.3 |
| Social
Security
|
$ 4,270.50
|
388.22 |
| 2% Retirement fund
(SAR)
|
$
341.60
|
31.05 |
| Total Taxes |
$ 5,888.77
|
$535.34
|
| Additional Fringe
Benefits - Optional |
|
|
| Savings Fund
(10%)
|
$ 1,708.20
|
$155.29
|
| Cafeteria
|
$ 4,270.05 |
388.22 |
| Transportation
|
$ 1,708.20 |
155.29 |
| Uniforms
|
$
192.31 |
19.23 |
| Attendance
bonus
|
$
982.80 |
89.34 |
| Food
Bonus
|
$ 4,270.05 |
388.22 |
| Total Benefits |
$ 13,131.61 |
1193.78 |
|
|
|
| Total
Cost of Minimum Wage Employees with benefits per year |
|
|
| $ 37,447.88 |
$3,404.35
|
| Cost per
hour
|
$
15.65 |
$1.42
|
| Note: Exchange rate is calculated at
11.0 pesos to the dollar |
|
|
|
|
|
| Hours worked per day 8/48 hour work week |
|
|
| Hours worked per year
|
2,392
|
|
| Total days worked per year |
299 |
|
| Actual days per year less |
|
|
| 52 Sundays |
|
|
| 52 Saturdays |
|
|
| 7 holidays |
|
|
| 7 vacation days (1st year) |
|
|
|