What is minimum monthly income in SAP PY-CL - Chile?

SAP Term: minimum monthly income

• Component: PY-CL

• Component Name: Chile

• Description: A minimum wage for employees in , defined by law by the Congress. It usually becomes effective the first day of July each year and is valid for one year. This minimum wage is known in Spanish as 'ingreso mínimo mensual IMM'.

Smart SAP Assistant

• Key Concepts: 
  Minimum monthly income is a component of the SAP Payroll system in Chile. It is a mandatory payment that employers must make to their employees each month, regardless of the number of hours worked. The amount of the minimum monthly income is determined by the Chilean government and is based on the employee's age, marital status, and number of dependents. 
  
  How to use it: 
  In order to use the minimum monthly income component in SAP Payroll, employers must first enter the employee's age, marital status, and number of dependents into the system. Once this information has been entered, the system will automatically calculate the amount of the minimum monthly income that must be paid to the employee each month. 
  
  Tips & Tricks: 
  It is important to remember that the minimum monthly income component in SAP Payroll is mandatory and must be paid to all employees each month. Additionally, employers should ensure that they are up-to-date with any changes in the Chilean government's regulations regarding minimum monthly income as these can change from time to time. 
  
  Related Information: 
  For more information about SAP Payroll in Chile, please visit https://www.sap.com/latinamerica/products/payroll-chile.html. Additionally, for more information about minimum monthly income in Chile, please visit https://www.gob.cl/trabajo/temas/remuneraciones/salario-minimo/.