Myanmar Increases Minimum Wage in August 2024
Effective August 1 2024, Myanmar’s minimum wage for an 8-hour workday increased from 5,800.00 Myanmar Kyat (MMK) to MMK 6,800.00 per day through an additional allowance of MMK 1,000.
Since 2018, the minimum wage was set at MMK 4,800.00. In September 2023, the Ministry of Planning and Finance introduced an additional daily allowance of MMK 1,000 for employees in government departments and organizations. Subsequently, on October 9, 2023, the National Committee for Setting the Minimum Wage extended this allowance to workers in private-sector companies with more than 10 employees, raising the effective minimum daily wage to MMK 5,800.
Now with an additional allowance of MMK 1,000.00, the minimum wage is raised to MMK 6,800.00 per day.
Applicability
This wage adjustment does not apply to small businesses employing fewer than ten employees and excludes family-owned businesses.
Minimum Wage History
Below is a overview of the minimum wage rates and allowances over the past 6 years.
Date of Effect | Minimum Wage | Minimum Wage | Additional Daily Allowance | Total Daily Wage |
|---|---|---|---|---|
14 May 2018 | MMK 600 | MMK 4800 | - | MMK 4800 |
1 October 2023 | MMK 600 | MMK 4800 | MMK 1000 | MMK 5800 |
1 August 2024 | MMK 600 | MMK 4800 | MMK 2000 | MMK 6800 |
Implications for Employers
Employers must adjust their payroll systems to reflect the increased total daily wage of MMK 6,800. It's crucial for businesses to ensure compliance with these new wage regulations to avoid potential legal issues.