Pakistan – New Minimum Wage and Amended EOBI Contributions – 1 July 2024
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The Pakistani government announced a change in the minimum wage on 12 June 2024. This became effective on 1 July 2024, after being formally approved on 28 June 2024. The revised EOBI contribution amounts are the consequence of the new minimum wage. The minimum wage used to be PKR 32,000. As a result, the EOBI contributions have been adjusted as follows:
| Parameters | Until 30-06-2024 (Amounts in PKR) | From 01-07-2024 onwards (Amounts in PKR) |
|---|---|---|
| Minimum Wage | 32,000 | 37,000 |
| EOBI Employee Contribution | 1% of 32,000 = 320 | 1% of 37,000 = 370 |
| EOBI Employer Contribution | 5% of 32,000 = 1600 | 5% of 37,000 = 1850 |
The amended EOBI contributions and minimum wage became effective from 1 July 2024.
Please contact your Mercans’ services delivery team for any additional information regarding the implications of the above change.
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Pakistan – New Minimum Wage and Amended EOBI Contributions – 1 July 2024
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