The minimum salary and subsistence minimum is raised

Consultation is devoted to the analysis of influence of increase of a salary and a subsistence minimum on various payments and contributions.

Since October 1 of the current year the size of minimum wage and a subsistence minimum (Art. 62 and 76 Laws on the State budget for 2007) once again increased. How this increase will affect various payments and contributions, we and will tell in consultation.

Now the minimum wage is equal 460 UAH.

The size of a subsistence minimum makes:

• for children under 6 years – 470 UAH.;

• children at the age from 6 till 18 years – 604 UAH.;

• able-bodied persons – 568 UAH.;

• the persons which have lost work capacity – 411 UAH.

• the general indicator – 532 UAH.

What changed in this regard in a financial deyoyatelnost of the enterprises?

Minimum insurance fee

Change of the minimum salary led to an izmeyoneniye of the minimum insurance fee (further – MSV). Let’s remind that for purpose of pension on voz­rastu the insurance experience joins only those peri­ody throughout which the individual was insured in system of pension insurance and for which insurance fees at a rate of not less MSV (Law No. 1058 Art. 24) were monthly paid.

MSV pays off by multiplication of the minimalyyony salary operating at the moment of payment of a salary (income) to the worker, to a rate of an insurance fee.

So, since October 1 the MSV size makes:

• for the persons working for payers of FSN – 63,39 UAH. (460 UAH. x 13,78 %);

• the persons working at other enterprises – 155,02 UAH. (460 UAH. x 33,7 %);

• business owners – 152,72 UAH. (460 UAH. x 33,2 %).

Authorized capital of economic societies

The size of an authorized capital of hozobshchestvo depends on the size of the minimum salary (Art. 24 and 52 Laws No. 1576) also. So, the size of an authorized capital since October 1 so­stavlyaet:

• for opened and closed joint stock companies – 575 000 UAH. (1 250 minimum salaries);

• societies with a limited and additional otvetyostvennost – 46 000 UAH. (100 minimum zar­plat).

Contributions to the Social Insurance Fund on VPT

The rate of a contribution to social insurance on vremenyony disability makes (Law No. 2213 Art. 1):

• 0,5 % – for the hired workers, which salary below a subsistence minimum, ustanovyolenny for the able-bodied person;

• 1 % – for the hired workers, which salary above a subsistence minimum, ustanovyolenny for the able-bodied person.

Contribution to pension insurance

In the current year pension contributions keep as follows (Art. 113 of the Law on the State budget for 2007):

• 0,5 % – from a part of the income which is not exceeding a prozhiyotochny minimum for the able-bodied person;

• 2 % – from a part of the income exceeding a prozhitochyony minimum for the able-bodied person.

The minimum pension on age

Since April 1 and since October 1 of the current year for determination of the minimum size of pension on age prime­nyaetsya a subsistence minimum for the persons which have lost work capacity, increased by 1 % (Art. 62 of the Law on the State budget for 2007).

Thus, the minimum size of pension on age since October 1 makes 415,11 UAH. (411 UAH. + 1 %).

Pay attention: change of the minimum salary doesn’t influence the size of a tax social concession and the limiting sum of a salary to which this privilege can be applied. The matter is that for a year the size of these indicators depends only on the minimum salary and living minimu­ma, established for January 1 of fiscal year (subitem 6.1.1 and 6.5.1 Law No. 889).

List of documents

1. The law on the State budget for 2007 – the Law of Ukraine from 19.12.06 of No. 489-V About the Government budget of Ukraine for 2007.

2. The law No. 889 – the Law of Ukraine from 22.05.03 of No. 889-IV About a tax on the income of individuals.

3. The law No. 1058 – the Law of Ukraine from 09.07.03 of No. 1058-IV About an obligatory state pension strakhoyovaniye.

4. The law No. 1576 – the Law of Ukraine from 19.09.91 of No. 1576-HM About economic societies.

5. The law No. 2213 – the Law of Ukraine from 11.01.01 of No. 2213-111 About the size of contributions to some types of obligatory state social insurance.

(On materials the Balans-Agro newspaper).

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