The National Social Security Fund (NSSF) recently issued memo number 801 regarding the application of decree number 699, which pertains to the increase of the minimum wage. In details, the memo stipulates that in the case of companies, the minimum monthly and daily wages are set at LBP 28 million and LBP 1.3 million on a respective basis, while adding that the maximum amount subject to deductions for the sickness and maternity branch is set at LBP 140 million (5 times the minimum wage). In addition, the memo set the monthly subscriptions payable to the NSSF (all branches) for various occupations as highlighted below:

-       Taxi drivers who don’t own a car: LBP 10.88 million

-       Taxi drivers who own a car: LBP 5.46 million with the government contributing LBP 5.32 million

-       Magazine sellers: LBP 10.88 million.

In addition, the monthly subscription for mayors for the NSSF sickness and maternity branch was defined at LBP 1.01 million (with the government paying LBP 4.03 million), with that of doctors set at LBP 7.7 million, and the annual subscriptions of university students for the NSSF sickness and maternity branch set at LBP 8.4 million.