Balance of mandatory social contributions of the wage bill should be changed in favor of the employer, the chairman of the State Social Protection Fund (SSPF) Salim Muslimov said.
As he said at a press conference about the increase in the base part of labor pensions in the current rate of contributions for social insurance is 25 %, of which 22 % is paid by the employer, and only 3% is deducted from the salary of the employee.
"Also just and rational is the scheme "18 +7". Then the employers will voluntarily allocate funds not hiding the true size of their salaries," says Muslimov.
State Fund has taken the initiative to the government of the country in the hope that it is implemented by the beginning of 2014, the chairman of the fund said. - 17D-
Economics
-
The 12th International Caspian Energy Forum commenced today in Baku, organized by the Caspian Energy Club in collaboration with Enermus, bringing together over 500 delegates from across the Caspian-Black Sea and Baltic regions.
-
The World Bank has recommended that Azerbaijan cut subsidies in its water sector to enhance system sustainability and address the escalating issue of water scarcity, Stephanie Stollmeister, Manager of the World Bank Representative Office in Azerbaijan, reported.
-
Last week, the Central Bank of Russia raised the interest rate from 18% to 19% annually. The decision to increase the rate was made against the backdrop of rising inflation expectations among the public and businesses.
-
Azerbaijan’s Cabinet of Ministers has announced a detailed timeline for the mandatory transition of labor contracts to an electronic document format, in accordance with a decree issued by the President of Azerbaijan on June 28, 2024. The resolution, signed on September 17 by Prime Minister Ali Asadov, outlines phased implementation deadlines for different categories of employers, with the aim of modernizing labor documentation and improving efficiency.
Leave a review