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Minimum wage will increase by half

June 18 2008

Changes in existing legislation, increased the minimum wage (SMIC) on 1 January 2009 to 4,330 rubles a month against the current 2300 rubles, the Federation Council intends to consider at a meeting on Wednesday.

Chairman of the Budget Committee of the Chamber Yevgeny Bushmin said that the envisaged increase in the SMIC 1.88 times applies to all employees and will enhance the income of the poorest population groups, with wages lower than 4,330 rubles a month. The senator said that the subjects of the Federation regional agreements on minimum wages can set a higher minimum wage, taking into account the size of the subsistence minimum in the region.

Now in 45 regions adopted a higher standard of wages compared with minimum wage set by federal law. At the same time in the 21 subject of the Federation the minimum wage was set at a subsistence level of the workforce. This has contributed to the growth of wages in the national average of 1.27 times, said the head of the committee.

According to experts, increasing the minimum wage would reduce the shadow payments to employees that will enhance the pension and social insurance, and may also lead to increased revenue unified social tax (UST) in the state budget funds and income tax in the budgets of the Federation.

To implement the law in 2009 to provide an additional 30 billion rubles in the federal budget and 90 billion rubles to the regional budget. Amendments to the Law on the Minimum Wage ", which set a January 1, 2009 minimum wage at a level of 4,330 rubles, the State Duma passed the first reading and in general on June 11, according to RIA News .

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