GOOD NEWS! There's an increase in Minimum Wage for Migrant Workers in Israel| Money & Investments | iSavta

GOOD NEWS! There's an increase in Minimum Wage for Migrant Workers in Israel

GOOD NEWS! There's an increase in Minimum Wage for Migrant Workers in Israel

Great news for all foreign workers in Israel! Starting April 1st, 2023, you will have more money in your pocket every month as the minimum wage in Israel will increase to 5,572 NIS per month. This means that you can now earn more money and have a better standard of living. Additionally, the wage for each day off will also increase from 212 NIS to 223 NIS, and you can now earn up to 380 NIS for work on a day of rest (Shabbat).

Having a higher salary as a foreign worker in Israel comes with many benefits. You can now afford to pay for your basic needs such as food, rent, and transportation comfortably, as well as save some money for emergencies and other necessities. With this increase in salary, you can also start to invest in yourself and your future. You can enroll in language classes to improve your Hebrew or English, which can open up more job opportunities and better pay in the future. You can also take advantage of various training programs or workshops that can help you acquire new skills or upgrade your existing ones.

To ensure that you can go home to your family one day with enough savings to start a new life, you need to make a plan and stick to it. First, you need to set a budget and track your expenses. This will help you identify areas where you can cut back on spending and save more money. Consider setting up automatic savings, where a portion of your salary is automatically transferred to a savings account each month. You can also explore investment options such as mutual funds, stocks, or real estate, which can help grow your money over time.

In summary, the increase in the minimum wage in Israel is great news for all foreign workers, and it presents an opportunity to improve your standard of living, invest in yourself, and save for your future. With a good plan and discipline, you can go home to your family one day with enough savings to start a new life.

 

Here's a post from Kav LaOved - Migrant Caregivers

 
THE MINIMUM WAGE IS INCREASED !!!!
------------------------------------------------
GOOD NEWS: The Minimum Wage in Israel is increased***
Please read carefully for all details.
 
***The increases are as follows:
 
Minimum monthly wage: 5300 NIS -> 5572 NIS (Increase of 272 NIS, 5.1%)
 
The implication is not only for the salary but also for the separation pay (pitsuim) for those who are dismissed or those whose employer passed away on a date later than May 1st.
 
Minimum daily wage: 212 -> 223 NIS (the implication is for annual vacation day)
Minimum hourly wage: 29.12 -> 30.61 NIS
Minimum pay for work on the weekly rest day ("Shabbat") and for working on a holiday:
361.5 NIS - > 380 NIS
 
2 things to Note:
 
1) The first salary to be raised should be on May 10th, when the April salaries are paid
 
2) Note that for MOST caregivers the increase of the salary itself is NOT Obligatory, if they already get more than the new minimum wage after the permitted deductions for 2023, i.e. if they get more than 4600 INCLUDING weekly allowance of 100 NIS, as customary.
 
If you receive less than 4200 NIS (+100 NIS weekly) – then you should demand a raise based on the change in the law.
 
However, even for a caregiver who gets more than [the new minimum wage minus all the permitted deductions], i.e. more than 4600 NIS – it makes sense to ask for an increase based on the minimum wage increase.
 
We should all keep in mind that the permitted deductions (for medical insurance, housing, expenses for water, electricity, and the like, and food) – are permitted but NOT obligatory.
 
If the full deductions were not performed so far by your employer, then there is no reason to perform them now, and your salary will hopefully be increased.

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