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The Unit of Measure and Update (UMA) is used as the unit of account, index, base, measure or reference to determine the amount of the payment of the obligations and assumptions provided by federal, state and city laws. Mexico, as well as in the legal provisions emanating from said laws. (Art, 26 sixth paragraph CPEUM).
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The updated value of the UMA will be calculated and determined annually by INEGI, in accordance with the following method:
The daily value will be determined by multiplying the daily value of the UMA of the immediately previous year by the result of the sum of one plus the interannual variation of the National Index of Consumer Prices for the month of ...
The monthly value will be the product of multiplying the daily value of the UMA by 30.4.
The annual value will be the product of multiplying the monthly value of the UMA by 12.
The UMA of 2017 will be effective as of February 1, 2017. INEGI will publish in the Official Gazette of the Federation within the first ten days of January of each year the daily, monthly and annual value in national currency of the UMA and said values will enter into force on the 1st. February of that year.
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The obligations and assumptions denominated in UMA will be considered a determined amount and will be solved by delivering their equivalent in national currency. For this purpose, the amount of the obligation or assumption, expressed in said units, must be multiplied by the value of said unit on the corresponding date.
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According to the explanatory memorandum ¨The UMA was created to stop using the minimum wage as an indexing instrument and update the amounts of the obligations provided for in various legal systems, thereby allowing the increases to be determined to the value of the minimum wage and do not generate increases to all the amounts that were indexed to it, thus achieving that the minimum wage can function as an instrument of independent public policy and meet the constitutional objective of being sufficient to meet the normal needs of a head of household, in the material, social and cultural order, and to provide for the compulsory education of children. In this sense, by prohibiting in the Political Constitution of the United Mexican States the use of the minimum wage as an Index, unit, base, measure or reference for purposes unrelated to its nature, it is necessary to have an indexing unit to replace it in said function.
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The foregoing does not mean that the minimum wage cannot continue to be used as an index, unit, base, measure or reference for its own purposes. As in the case of the provisions relating to social security and pensions, in which said salary is used as an Index in determining the maximum limit of the base contribution salary (article 28 of the Social Security Law).
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Reform and Additional Infonavit Law
DOF, April 27, 2016
For the proportion associated with the mortgage loans denominated in Minimum Wages, it will be the rate of increase to the Minimum Wage, without it being able to exceed the percentage rate of increase of the Unit of Measure and Update (UMA) for the same period.
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Article 44 .- The balance of the credits granted to the workers referred to in section II of article 42, will be updated under the terms and conditions that have been stipulated.
Notwithstanding what is stated in the previous paragraph, in the case of credits granted in times the minimum wage, in the event that the minimum wage increases above the Unit of Measurement and Update, the Institute may not update the balance in national currency of this type of credits at a rate that exceeds the percentage growth of said Unit of Measure and Update during the same year.
Likewise, the aforementioned credits will accrue interest on their adjusted balance, at the rate determined by the Board of Directors. Said rate shall not be less than four percent per year on unpaid balances.
The Institute will also grant, at the request of the worker, credits, in pesos or Units of Measurement and Updating in accordance with the rules determined by its Board of Directors for this purpose, which must ensure that the financial conditions for workers are not higher than those provided for in the preceding paragraphs and at all times providing for measures to preserve the financial stability of the Institute and cover the risks of its loan portfolio.
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Article 55.- Regardless of the specific sanctions established by this Law, the infractions to which the bosses commit to the detriment of their workers or the Institute, will be punished with fines for the equivalent of three to three hundred and fifty times the daily value of the Unit of Measure and Update in force at the time the violation is committed.
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