Définition
The guaranteed minimum is used for evaluating professional expenses (meals, travel, etc.), benefits in kind in certain cases (food, housing), social benefits, etc. It was introduced by a law of 2 January 1970, from which date it was called the SMIC, superseding the SMIG (guaranteed minimum inter-profession wage), created in 1950.
Remarque
As opposed to the guaranteed minimum growth wage (SMIC), the guaranteed minimum is not defined as a reference wage.