Insurance contribution base cap to increase, effective 2024
16 November 2023
PAS Messenger
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.
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.
Authors:
- Ekaterina UkhovaPartnerPeople Advisory services
- Lyudmila SapronovaDirectorPeople Advisory services
Contact us
Learn more about our services by filling in the feedback form, or send us a request for proposal by email. Select the appropriate option.
Learn more about our services by filling in the feedback form, or send us a request for proposal by email. Select the appropriate option.
This website uses cookies to improve your user experience. If you continue on this website, you will be providing your consent to our use of cookies.
Accept