Insurance contribution base cap to increase, effective 2024

16 November 2023
PAS Messenger
Decree No. 1883 of the Government of the Russian Federation dated 10 November 2023 establishes a base cap for the assessment of insurance contributions starting 1 January 2024. The amount will be RUB 2,225,000.

Given that insurance will still be charged at a rate of 30% on amounts up to the maximum and 15.1% on amounts above the maximum, the overall burden on companies will rise by RUB 45,892 for each highly paid employee.

  • Ekaterina Ukhova
    People Advisory services
  • Lyudmila Sapronova
    People Advisory services
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