Baku / 26.12.17 / Turan: On December 25 Azerbaijani President Ilham Aliyev signed an order to increase the minimum wage. Starting from January 1, 2018, the minimum monthly salary is set at 130 manats.
The head of state instructed the Cabinet of Ministers to bring the size of the monthly official wage in the Unified Tariff Scale of employees in the areas financed from the state budget in accordance with the order.
The government is also instructed to prepare proposals on improving the system of labor remuneration and increasing the wages of workers employed in the areas financed from the state budget and submit the proposals to the President of Azerbaijan within three months.
With the increase in the minimum wage, the amount of compulsory social insurance payments to the State Social Protection Fund also increases. They make up 20 percent of the minimum wage.
Thus, from January 1, compulsory social insurance payments will amount to AZN 26.
It should be noted that from February 1, 2016, the minimum wage in Azerbaijan is 116 manats, and the amount of compulsory social insurance payment is 23.2 manats.-06D--
Economics
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