12:22 - 6.01.2023

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January 6, Fineko/abc.az. The minimum wage in Azerbaijan was increased from 300 up to 345 manats by the relevant presidential decree from 5 January.

ABC.AZ reports that this change will affect the overall wage growth in the country.

At the same time, an increase in the minimum wage will cause an increase in the amount of mandatory payments by citizens and entrepreneurs.

Since, according to the legislation, those who work under the TIN have monthly payments to the State Social Protection Fund in the amount of up to 25% of the minimum wage, these payments will increase from 75 manats up to 86.25 manats.

The increase in the minimum wage will also increase payments for compulsory health insurance from 12 manats up to 13.80 manats. As, according to the law, the mandatory insurance payment is 4% of the salary. Of them, 2% is paid by the employee and 2% by the employer.