From January 1, the minimum wage in Russia will increase by three thousand rubles

CrimeaPRESS reports:

From January 1, 2024, the minimum wage (minimum wage) in Russia will be 19,242 rubles. The corresponding law was signed by the President of the Russian Federation Vladimir Putin, the document was published on the legal information portal.

Set the minimum wage from January 1, 2024 in the amount of 19,242 rubles. per monthsays the text of the law.

Now the minimum wage is 16,242 rubles, it will be increased by almost 18.5%.

Also by law from 2025, it is planned to increase the ratio of the minimum wage to the median wage from 42 to 48%.

In addition, additional costs for increasing wages of public sector workers next year will be:

• for employees of federal government institutions (in addition to funds allocated to the federal budget) — 19.7 billion rubles;
• for employees of state institutions of the constituent entities of Russia and municipal institutions — 126.4 billion rubles.

Vladimir Putin made a proposal to further index the minimum wage by 10% in February of this year in his message to the Federal Assembly. The project was prepared by the Ministry of Labor of the Russian Federation, and on September 29 it was submitted to the State Duma for consideration. In November, the Duma adopted the law.

Earlier, the Head of the Russian Government, Mikhail Mishustin, noted that increasing the minimum wage by 18.5% from next year will allow raising the salaries of more than 4.5 million Russians.

REFERENCE: Minimum wage is the amount of money that a person is guaranteed to receive for work performed under standard conditions: employed full time, worked all hours/shifts in a month, and so on. The amount is set without personal income tax, that is, the employee will receive 13 percent less than the original amount. In accordance with the methodology adopted in 2020, the minimum wage is calculated based on the median salary (half of Russians receive more than this amount, the other half less) for the previous year. Previously, this ratio was 42 percent.

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