Salaries of Fenaka staff sees increase with implementation of minimum wage

The salaries of staff employed at Feneka Corporation has increased with the implantation of minimum wage, which was declared last year.

Fenaka said that in issuing the salaries of its staff for the month of January, 80 percent of them were given increments. The company said that the percentage amounts to 3,340 staff.

Statistics publicized by Fenaka show that staff receiving MVR 2,800 as basic salary previously, now receive MVR 4,650 as basic salary.

Including allowances, this is an increment from MVR 5,590 to MVR 9,299.

Fenaka Corporation which employees staff in different areas across the country states that the implementation of minimum wage will directly and indirectly benefit a significant number of people.

The government declared minimum wage, and publicized the rates on last November. The declaration publicized by the Economic Ministry back then read that minimum wage should be followed by employers when issuing the salaries for January.

The minimum wage has been set at: 

• Small businesses: MVR 21.63hourly rate, MVR 4,500 monthly wage 
• Medium businesses: MVR 33.65 hourly rate, MVR 7,000 monthly wage 
• Large businesses: MVR 38.46 hourly rate, MVR 8,000 monthly wage 

Public sector employees are included in the medium business category.