‘National Minimum Wage’ Increase from 1st October – Are you ready?

As we have previously communicated, as a final reminder, please don’t forget that as of tomorrow, the 1st October 2015, the National Minimum Wage is set to increase as per details below: As the National Minimum Wage increases to £6.70, so does the cost of employment. When Holiday Pay, Pension Costs, Employer’s NI and of course processing costs are considered, this £6.70 can be considerably higher. Here at ePayMe, we take all of this into consideration and therefore require a basic minimum wage of £8.75* to ensure these costs are covered, as anything lower than this amount could potentially compromise NMW. Also, please be aware that there will be an additional increase from April 2016, which is in relation to the new mandatory ‘National Living Wage’, where anyone over the age of 25 will be entitled to an hourly rate of £7.20. * Based on 40 hours worked per week. If you have any questions, please contact our Head Office team on 0800 622 6119