Minimum wage (minimum wage). What is the minimum deposit rate? Minimum interest rate on loans

The issue of a loan between a legal entity and the founder - an individual. What should be the minimum interest rate for interest-bearing loan agreements between a legal entity and an individual? An individual is the founder. Options - a legal entity provides a loan to an individual founder, an individual founder provides a loan to a legal entity.

Answer

In our opinion, the minimum rate under an interest-bearing loan agreement between an organization and an individual (organization founder) is not limited. The law does not establish a minimum interest rate under a loan agreement.

In accordance with paragraph 1 of Article 807 of the Civil Code of the Russian Federation, under a loan agreement, the lender transfers into the ownership of the borrower money or other things determined by generic characteristics, and the borrower undertakes to return the same amount of the loan to the lender. In addition, in accordance with Article 809 of the Civil Code of the Russian Federation, the lender has the right to receive interest from the borrower on the loan amount in the amount and in the manner specified in the agreement. The legislator does not establish any restrictions on the amount of interest under a loan agreement. If the loan agreement does not contain a clause on the amount of interest, then its amount is determined based on the current refinancing rate on the date of payment by the borrower. Therefore, in the loan agreement, it is important to indicate the loan percentage.

In the situation you described, an interest-bearing loan agreement is supposed to be concluded between an organization and an individual who is a founder in the same organization. The law does not prohibit doing this. However, for tax purposes, such a transaction may be considered to be concluded between related parties. Indeed, in accordance with subparagraph 2 of paragraph 2 of Article 105.1 of the Tax Code of the Russian Federation, an individual and an organization are recognized as interdependent persons if such an individual directly or indirectly participates in such an organization and the share of such participation is more than 25%. Consequently, if in transactions between interdependent persons (legal entity and individual) commercial or financial conditions are created or established that are different from those that would have taken place between persons who are not interdependent, then any income (profit, revenue) that could have been received by one of these persons are taken into account for tax purposes by this person (clause 1 of article 105.3 of the Tax Code of the Russian Federation). However, in order for tax authorities to control such transactions, the transaction must be recognized as controlled. In order for tax authorities to recognize a transaction as controlled, at least one of the conditions listed in paragraph 2 of Article 105.14 of the Tax Code of the Russian Federation must be met, namely:

1. excess of the amount of income from a transaction between related parties for the corresponding calendar year by 1 billion rubles;
2. one of the parties to the transaction is a mineral extraction tax taxpayer;
3. at least one of the parties to the transaction is a taxpayer applying the unified agricultural tax, unified tax on income tax;
4. at least one of the parties to the transaction is exempt from the obligations of a corporate income tax payer or applies a 0 percent tax rate to the tax base for the specified tax;
5. at least one of the parties to the transaction is a resident of a special economic zone or a participant in a free economic zone, the tax regime in which provides special benefits for corporate income tax;
6. the transaction simultaneously satisfies the following conditions:

• one of the parties to the transaction is a taxpayer specified in paragraph 1 of Article 275.2 of the Tax Code of the Russian Federation, and takes into account income (expenses) from such a transaction when determining the tax base for corporate income tax in accordance with Article 275.2 of the Tax Code of the Russian Federation;
• any other party to the transaction is not a taxpayer specified in paragraph 1 of Article 275.2 of the Tax Code of the Russian Federation, or is a taxpayer specified in paragraph 1 of Article 275. of the Tax Code of the Russian Federation, but does not take into account income (expenses) from such a transaction when determining the tax base for corporate income tax in accordance with Article 275.2 of the Tax Code of the Russian Federation;

7. at least one of the parties to the transaction is a participant in a regional investment project that applies a tax rate for corporate income tax subject to credit to the federal budget in the amount of 0 percent or a reduced tax rate for corporate profit tax subject to credit to the budget of a constituent entity of the Russian Federation, in the manner and under the conditions provided for in Article 284.3 of the Tax Code of the Russian Federation.

Verification of documents and contracts Moscow from 5,000 rubles. Good afternoon. The bet size can be any. Freedom of contract allows the parties to the contract to independently make such a decision. Good afternoon Current legislation does not limit you in the amount of interest under the loan agreement. At the same time, in practice, the tax authorities are very interested in interest-bearing loan agreements. Therefore, if you still want just such an agreement, and the lender is the founder, then it is best to use the refinancing rate, since a high rate may attract the attention of the relevant services. You can specify any sanctions for late payment; 0.1% is quite suitable.

Minimum interest under a loan agreement in 2018

Thus, from the provisions of this paragraph it follows that the legally essential conditions of the loan transaction are questions about the subject of the loan (money or things) and the need to return the property borrowed. At the same time, the need to pay compensation to the lender for the use of his property, that is, to pay interest under the loan agreement, is not discussed in paragraph 1 of Article 807 of the Civil Code of the Russian Federation. Consequently, a loan transaction, in accordance with the requirements of Article 432 of the Civil Code of the Russian Federation, will be considered concluded, even if the text of the agreement does not regulate the issue of interest by the parties.
This conclusion is directly confirmed by the provision of paragraph 1 of Article 809 of the Civil Code of the Russian Federation, which determines that there may be no indication of the need to pay interest in the text of the agreement.

On processing an interest-bearing loan between legal entities in 2018

Interest under a loan agreement between legal entities is one of the key points of a transaction related to raising borrowed funds. This article will tell you about all the nuances of determining, calculating and paying interest on a loan. Loan and interest Interest for using a loan under Article 809 of the Civil Code of the Russian Federation Maximum amount of interest, minimum interest rate, change (decrease or increase) in the fee for using a loan Late repayment of a loan and late payment of interest - consequences under Article 811 of the Civil Code of the Russian Federation Tax on interest received Loan and interest Clause 1 of Article 807 of the Civil Code of the Russian Federation establishes that when concluding a loan agreement, the lender must transfer money or things to the borrower, which he must subsequently return in full.

Limitation on interest on microloan agreements in 2018

Info

Often, concluding an assignment agreement is the easiest option for the creditor to ensure the return of at least part of the debt by transferring it to professional debt collectors. But you should understand that most likely no one will buy the contract for 100% of the loan amount, and you will have to put up with a rather large discount. Minimum and maximum interest The legislation of the Russian Federation practically does not limit the minimum and maximum interest rate applied on loans between legal entities.

Unlike consumer loans, the specific rate is agreed upon by the parties at the negotiation stage, although some points should be taken into account. Too high an interest rate can lead to the fact that the transaction may be considered enslaving, and subsequently not valid. This is typical for mini-loans issued at several hundred percent per annum.

Minimum interest rate under loan agreement 2018

Attention

Thus, from the provisions of this paragraph it follows that the legally essential conditions of the loan transaction are questions about the subject of the loan (money or things) and the need to return the property borrowed. At the same time, the need to pay compensation to the lender for the use of his property, that is, to pay interest under the agreement, is not discussed in paragraph 1 of Article 807 of the Civil Code of the Russian Federation. It is better for the founder to issue an interest-free loan. there will be no income or expenses for the parties.

Provided that the individual trusts the office 120%)) in accordance with the agreement, deposit money into the office’s cash desk and issue a receipt. spend money in accounting on account 66 (but I’m not an expert in accounting) I’m still interested in the interest rate. Can I indicate, for example, 9% as the refinancing rate and a penalty of 0.01% of the debt amount.

What is the minimum rate indicated in the loan agreement?

After there is a delay in fulfilling the obligation of the borrower - an individual to repay the loan amount and (or) pay the interest due, the microfinance organization under a consumer loan agreement, the repayment period of the consumer loan for which does not exceed one year, has the right to continue to accrue interest, penalties (fines) to the borrower - an individual , penalties) and other measures of liability only for the part of the principal debt not repaid by him. The actual issuance of microloans in the amount of up to 30 - 50 tr. Loan agreement refinancing rate in 2018 Pdog - the amount of interest payable according to the terms of the loan agreement (credit).

PSDog – the interest rate established in the loan (credit) agreement; KDg – the total number of calendar days in a year; KDpol – the number of days of using borrowed (credit) funds.

How to take into account interest on a loan (credit) received for tax purposes?

Return to Loan Agreement 2018Calculate interest based on the amount of the loan balance. To do this, you will need: – the balance of funds on the loan, calculated based on the principal amount of the loan minus the repaid part; – the annual interest rate is 10%; – the number of calendar days in the period for which interest is calculated (the number of days between the dates of repayment of parts of the loan ). Regulation No. 236-P (the body that approved the document or appendix to the document - the Central Bank of the Russian Federation) “On the procedure for the Bank of Russia to provide loans to credit institutions secured by collateral (blocking) of securities.”
"3.14. Interest is calculated for the use of Bank of Russia loans (lombard loans, overnight loans) at the interest rate (per annum) specified in the Notice. There is no accrual or collection of interest for using intraday loans.
Moreover, paragraph 1 of Article 809 of the Civil Code of the Russian Federation suggests that the loan can be interest-free, that is, free for the borrower. Changing the amount of interest According to paragraph 1 of Article 450 of the Civil Code of the Russian Federation, the parties to a loan transaction have the right at any time during the contract to change the amount of interest on it subject to their mutual consent. A unilateral change by the lender of interest is directly prohibited both by Article 450 of the Civil Code of the Russian Federation and by subparagraph 4 of paragraph 1 of Article 12 of the already mentioned Federal Law No. 151 (for clients of microfinance organizations). When making changes, including reducing the amount of interest, the parties should remember that they will come into force only from the moment the agreement is signed (clause 3 of Article 453 of the Civil Code of the Russian Federation). However, if desired, the parties in the text of the document can indicate a different procedure for the entry into force of the innovations they have adopted.
Determine the amount of interest on the loan received as follows: Interest on the loan received = Loan on which interest is accrued x Annual interest rate: 365 (366) days x Number of calendar days in the period for which interest is accrued Interest on the loan issued will be calculated by the bank (credit organization) (Clause 3.5 of the Regulations of the Central Bank of the Russian Federation No. 39-P). The procedure for calculating interest on loans issued is established by the Regulation of the Central Bank of the Russian Federation No. 39-P. This Regulation provides for four methods of calculating interest: - using the simple interest formula; - using the compound interest formula; - using a fixed interest rate; - using a floating interest rate. The method of calculating interest must be specified in the loan agreement. If the agreement does not specify the method of calculating interest, then interest will be calculated using the simple interest formula using a fixed interest rate.
If the debt is not repaid on time, 2 options are possible, depending on whether the parties to the agreement provide for special sanctions for late payment or not:

1. If the procedure and amount of the penalty, in accordance with paragraph 4 of Article 395 of the Civil Code of the Russian Federation, are determined in the agreement of the parties, the rules specified in the contract apply.
2. If the parties do not determine special sanctions for overdue debt, the provisions of Articles 395 and 811 of the Civil Code of the Russian Federation apply.

According to paragraph 1 of Article 811, if the loan is not repaid, the borrower must pay so-called penalty interest, accrued from the day when he was supposed to fulfill the obligation until the moment of actual settlement. It is important to remember that penalty interest is accrued only on the principal amount of the loan, in accordance with paragraph 5 of Article 395 of the Civil Code of the Russian Federation. Exactly the same position is reflected in paragraph 15 of the resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation dated October 8, 1998 No. 14.

Important

Tax consequences Often, the taxation of an interest-bearing loan between legal entities raises many questions, especially if the creditor is not a specialized company, but a legal entity that has decided to make a one-time financial investment in a specific enterprise. In the simplest case, the borrower simply includes interest on the loan as expenses and reduces his tax base, and the lender includes them in profit, accordingly increasing the tax base, pays income tax on them, etc. or a single tax when applying the simplified tax system. But a seemingly simple scheme often fails in practice.

Some tax inspectors, when they discover that they have received a loan with a very low interest rate, begin to try to prove that the borrower has a material benefit from saving on interest, which should be taken into account as profit.

Take a loan of less than 10% per annum from Vostochny, Alfabank and Gazprom Bank; the advantage of these banks is that they consider applications without providing a certificate of employment. Tinkov and Sovcombank also do not require proof of income, but their minimum level is 12% per annum. It is quite possible to receive money at a relatively low interest rate of 15% at UBRD.

Best cash loans

Alfa Bank is the largest Russian private bank, one of the top 10 most significant credit institutions.

A universal bank that carries out all main types of banking operations, serving private and corporate clients, investment banking, trade finance, etc.

A cash loan in the amount of up to 3,000,000 rubles is issued from Alfa Bank with an interest rate of 9.9% for a period of 1 to 5 years.

A consumer loan up to 1,000,000 rubles is issued at a rate of 14.99%; for the first 100 days no interest is charged for using the money. All you need is a passport.

Alfa Bank has a huge selection of credit and mortgage lending and deposit options, free savings services, programs and loans secured by property.

The approval rate of applications is high.

Summary: Alfa Bank is a reliable bank that maintains a leading position and offers various services on favorable terms.

Low interest loan

Home Credit Bank - loans up to 50,000 rubles from 10.9%!

Home Credit Bank is a leader in the consumer loans market at points of sale. To complete an online application and receive a loan, you only need a passport.
A wide range of products for clients of different social status. Additional favorable conditions for regular customers. Customer deposits are insured.
The Bank actively participates in the social life of society.

Summary: Home Credit Bank ranks first in the consumer loan market, thanks to low interest rates, customer focus and modern services.

Low interest cash loan

"Renaissance Credit" - up to 700,000 rubles at 11.3%

A bank with low interest rates, where you can get a consumer loan using two documents. It operates in almost all major cities of Russia, issues cash on the day of application for up to 5 years, and has a special program for pensioners.

Summary: Renaissance Credit is a bank with the lowest interest rates, where you can get a loan using two documents.

Low interest cash loans

Raiffeisen Bank - flat rate 10.99% for loan amount up to 2 million rubles

The bank follows the highest quality standards in its work, so clients trust it and agree to long-term cooperation.
To apply for a loan up to 300,000 rubles, you only need a passport; up to 1,000,000 rubles - passport and proof of income; up to 2,000,000 rubles - passport, proof of income and employment. The term of use is from 1 year to 5 years.
A decision on an online application is made in 2 minutes. You can receive an approved loan at the branch or with free courier delivery.

Summary: Raiffeisen Bank issues loans for large amounts at a reduced interest rate.

Low interest loans

"Eastern Bank" - low interest and high chances

In our opinion, Vostochny Bank does not offer the lowest rates, but it has the highest chances of having an application approved, even for borrowers with a bad credit history. In this bank you can take out a loan using your passport, without an income certificate or any additional documents. Applications are accepted online and reviewed within 5-10 minutes.

Summary: Vostochny Bank - not the smallest interest rates, but the maximum chances of approval of the application.

Lowest loan interest rate

"SKB-Bank" - simple and convenient lending.
SKB-Bank issues consumer loans in the amount of up to 300 thousand rubles without a certificate of income, up to 1.3 million rubles with a certificate. Interest rate from 9.9%. Loan term from 1 to 5 years. The loan application is reviewed within 2 business days. Early repayment is possible without commissions or penalties.
Convenient, modern and free online banking and mobile application.
Instant money transfers between cards of any banks.

Summary: SKB-Bank - low interest rates on loans for any purpose; universal online service.

Take out a small loan

Sovcom Bank is among the top 10 banks with the most favorable loans in 2018.
At Sovkom Bank you can take out a loan in the amount of 5 thousand to 1 million rubles for a period of 1 to 5 years. Interest rate – from 12% per annum. For a loan of up to 40 thousand rubles, you only need a passport. The best offer is a loan of 100,000 rubles for 1 year at 12% per annum. You can fill out an online application in 2 minutes.
There are special loan programs for pensioners. A larger amount can be obtained using a car or real estate as collateral.
If you have a bad credit history, the bank offers the Credit Doctor program.

Summary: Sovcom Bank is a large financial institution with attractive consumer lending conditions.

Take out a consumer loan at a minimum interest rate

Tinkoff Bank is a modern and practical bank with a full range of financial services.
A loan of up to 2 million rubles for 1-3 years is issued without certificates, guarantors or a visit to the bank. The interest rate on the loan is from 12%.
All applications are completed online, the card will be delivered by courier in 1 to 7 days to any location. Partial early repayment is possible - at any time by phone. Free replenishment at 300,000 points across Russia. There are mortgage lending programs.
The first Russian bank to completely abandon branches. Banking transactions are carried out instantly over the phone or via the Internet.

Summary: Tinkoff Bank is the best online retail bank with a variety of credit and debit cards for any need.

Consumer loan the most favorable conditions

Pochta Bank is a new retail bank with branches in Russian post offices.
At Pochta Bank you can get a loan of up to 1.5 million rubles for a period from 1 to 5 years. All you need is a passport and SNILS. For payments of 10,000 rubles per month, the interest rate is reduced from 12.9% to 10.9%. A decision on an application is made within 1 minute.
The Element 120 bank credit card allows you to make purchases with payment within 120 days. The bank has special conditions for loans for education and.

Summary: Pochta Bank is a universal retail bank with affordable loans for various purposes.

Banks consumer loan

Rosbank is part of the Societe Generale group, the leading universal European bank.
The bank offers a “Just Money” loan without collateral in the amount of 50,000 to 3,000,000 rubles with an interest rate of 13.5% to 19.5% for a period of 13 to 84 months. A passport and a certificate of income are required; if the amount exceeds 400,000 rubles, the bank requests additional data. The credit limit may be increased upon presentation of information about additional income. More attractive conditions are offered for borrowers who receive wages into an account at Rosbank, employees of partner companies, pensioners, public sector employees, etc.
Rosbank approves 8 out of 10 submitted loan applications.

Summary: Rosbank offers loan programs at rates above average.

Advantageous loan

OTP Bank is a universal credit organization that is part of the international financial OTP Group.
At OTP Bank you can get a loan in the amount from 15,000 to 4,000,000 rubles. Rates vary from 10.5% to 14.9%, determined by the bank taking into account the client’s risk level. Loan term up to 7 years. Application review time ranges from 15 minutes to 1 business day. There is a paid service “Change of payment date”.
Bank offices in 3,700 locations across the country. In addition to individuals, the bank cooperates with representatives of small and medium-sized businesses, develops credit solutions for corporate clients, and is a reliable partner for financial institutions.

Summary: OTP Bank provides loans to corporate clients and individuals, the interest rate is determined individually.

Take a loan from a bank at a minimum interest rate

UBRIR is the largest bank in Russia, offering high-quality service and simple financial solutions.
The bank offers three types of loan products:
● “Available” loan - up to 200,000 rubles with an interest rate of 11% without certificates and guarantors only with a passport;
● “Open” loan - up to 1,500,000 rubles, rate from 11%, you need a passport and income certificate;
● “120 days” - from 30,000 to 299,999 rubles for 3 years. Interest for using the loan is not accrued for the first 120 days; after the grace period, the rate is 28-31%. For registration you need a passport and income certificate.
Commission for maintaining a card account and withdrawing funds. Early repayment is free.

Summary: UBRD provides loans for various requests at affordable interest rates.

How to get a consumer loan at a low interest rate?

Start with “your” bank. If you receive a salary on a card, apply for money to the bank that issued this card. You will probably enjoy lower interest rates and minimal requirements for the package of documents. For example: standard consumer loan at Alfa Bank 15.99%. And if you receive your salary on a card, the interest rate is reduced to 13.99%

To increase your chances of finding the best deal, consider several options. Apply to two or three places at once, find out your individual rate and choose the bank that offers the most favorable conditions.

Gather your documents. Many banks issue cash loans without proof of income, and sometimes simply with the passport of a Russian citizen. This is convenient, but if you are counting on low interest rates, try to confirm your financial situation with some documents. Best of all - a certificate in form 2-NDFL and a copy of the work book.

In connection with the introduction of maximum interest rates on debt obligations in 2015, the question arose regarding the calculation of interest on loans provided. The minimum interest rate from January 1, 2015 is equal to the refinancing rate of 8.25 x 0.75, i.e. 6.19%. Our organization has entered into loan agreements with an interest rate of 5% (in 2012 and 2013). Does this mean that we should increase the interest rate to at least the minimum 6.19% by concluding additional agreements so that during an audit we will not be accused of understating the tax base when calculating income tax?

Changes made to the Tax Code of the Russian Federation related to the calculation of limit values ​​apply to legal relations that arose from January 1, 2015 (clause 2, article 3 of Federal Law dated March 8, 2015 No. 32-FZ). Thus, even if the loan agreements concluded in your organization can be considered controlled transactions, there is no need to raise the interest rate on them.

The rationale for this position is given below in the materials of the Glavbukh System

Accounting for received loans and credits

1.7.19 Tax accounting of transactions for obtaining a loan (credit).

Money (property) received from the lender (creditor) under a loan agreement and returned back does not affect the calculation of income tax. They do not need to be included either in income or in expenses (subclause 10, clause 1, article 251, clause 12, article 270 of the Tax Code of the Russian Federation). If the loan (credit) is provided with interest, the amount of interest paid to the lender (creditor) is included in non-operating expenses. This is stated in subparagraph 2 of paragraph 1 of Article 265 of the Tax Code of the Russian Federation.

Interest on borrowed funds is considered a standard expense. The taxpayer has the right to choose one of two methods for calculating the maximum amount of interest recognized as an expense and indicate this in his accounting policy (clause 1.1 of Article 269 of the Tax Code of the Russian Federation).

The first method: the maximum interest amount is determined as the average interest level on comparable loans.

The second method: the refinancing rate of the Bank of Russia is taken as a guideline.

The standard for ruble obligations in 2014 is the refinancing rate of the Bank of Russia, increased by 1.8 times. The limit on foreign currency loans in 2014 is the product of the Bank of Russia refinancing rate and a coefficient of 0.8.

When receiving an interest-free loan (credit), the company does not generate any income from interest savings.

At the same time, repayment of the loan, as well as payment of interest in kind, are recognized as sales in accordance with paragraph 1 of Article 39 of the Tax Code of the Russian Federation.

Therefore, a company that is a VAT payer must charge it on the value of the property transferred to the lender (subclause 1, clause 1, article 146 of the Tax Code of the Russian Federation).

VAT is charged on the contractual value of the transferred property (clause 1 of Article 154 of the Tax Code of the Russian Federation). But only if the price is recognized as market price in accordance with Chapter 14.2 of the Tax Code of the Russian Federation. Otherwise, the tax is calculated on the market value of the property.

From January 1, 2015, the procedure for recognizing interest on debt obligations in tax accounting has changed. Now they are recognized as an expense based on the actual rate (paragraph 2, paragraph 1, article 269 of the Tax Code of the Russian Federation).

If debt obligations of any kind arose as a result of transactions recognized as controlled, then interest calculated on the basis of the actual rate taking into account the provisions of section v is recognized as income (expense). 1 of the Tax Code of the Russian Federation, which is devoted to relations in transactions with related parties and price control in such transactions (controlled transactions).

So, if one of the parties to a debt obligation arising as a result of a controlled transaction is a bank, the taxpayer has the right to recognize as an expense the interest calculated on the basis of the actual rate. But only if this rate is less than the maximum value of the limit value interval established by clause 1.2 of Article 269 of the Tax Code of the Russian Federation (clause 1.1 of Article 269 of the Tax Code of the Russian Federation).

Income from such a transaction is recognized in the same way for the lender.

Thus, in the relationship between a bank and an organization or entrepreneur dependent on it, the rules take into account not only interest expenses, but also income (for example, from deposits).

From January 1, 2015, intervals of maximum interest rates on debt obligations are applied depending on the currency in which they are issued. For a debt obligation issued in rubles, for the period from January 1 to December 31, 2015, the interval is set from 75 to 180% of the refinancing rate of the Bank of Russia (subclause 1, clause 1.2, article 269 of the Tax Code of the Russian Federation). And if the obligation is in a currency, then the intervals of the limit values ​​depend on the type of currency and the rates of interbank offers in the corresponding zone of circulation of this currency. For example, for a debt issued in euros, from the European Interbank Offered Rate (EURIBOR) in euros increased by 4 percentage points to the EURIBOR rate in euros increased by 7 percentage points.*

The minimum wage is the minimum wage per month established by the Federal Law “On the Minimum Wage” dated June 19, 2000 N 82-FZ. Every year, the Federal Law “On Amendments to Article 1 of the Federal Law “On the Minimum Wage” appears and sets the minimum wage for the coming year.

• The minimum wage for 2014 was 5,554 rubles (Federal Law No. 336-FZ dated December 2, 2013);
• The minimum wage in 2015 was 5,965 rubles (Federal Law No. 408-FZ dated December 1, 2014);
• The minimum wage for 2016 was 6,204 rubles (Federal Law dated December 14, 2015 No. 376-FZ), and from July 1, 2016 it will increase to 7,500 rubles;
• The minimum wage in 2017 remained equal to 7,500 rubles, but from July 1, 2017, the minimum wage increased to 7,800 rubles (Federal Law No. 460-FZ dated December 19, 2016);
• The minimum wage at the beginning of 2018 was 9,489 rubles, and was later increased to 11,163 rubles (Federal Law No. 41-FZ dated March 7, 2018);
• The minimum wage in 2019 was 11,280 rubles (Federal Law No. 481-FZ dated December 25, 2018).

Application of the minimum wage

The minimum wage applies to:

• Regulation of wages. In accordance with the Labor Code of the Russian Federation, the salary of an employee of any organization for a fully worked month cannot be less than the minimum wage.
• Determination of the minimum amount of benefits for temporary disability, pregnancy and childbirth.

• government of a constituent entity of the Russian Federation;
• union associations;
• associations of employers.

Once the agreement is concluded, all employers are invited to join it: the proposal to join the agreement is officially published in the media. If the employer does not submit a reasoned written refusal within 30 calendar days from the date of official publication of the proposal, it is considered that the employer has acceded to the agreement and is obliged to apply it.

Regional minimum wages are required to be applied by commercial organizations and entrepreneurs of a constituent entity of the Russian Federation, separate divisions located in the constituent entity, government agencies financed from the budgets of constituent entities of the Russian Federation, and municipal institutions. Federal government, budgetary and autonomous institutions are not required to apply the regional minimum wage.

In addition to the regional minimum wage, bonuses and coefficients established in the region are applied. For example, in the Altai Territory, the agreement for 2019-2021 established a minimum wage of 13,000 rubles. At the same time, the regional coefficient of 15% applies in the region. This means that employers in the Altai Territory do not have the right to set wages below 14,950 rubles (13,000 × 1.15).

New minimum wage from January 1, 2019

From January 1, 2019, the minimum wage in the Russian Federation has changed. The new minimum wage increased to 11,280 rubles. This fact will affect the amount of the minimum benefit for a child under 1.5 years of age.