Publication date: 14.05.2024
Minimum wage in 2024. What to pay attention to when calculating insurance payments to employees
In accordance with the Law of Ukraine dated November 9, 2023 No. 3460-IX "On the State Budget of Ukraine for 2024", the minimum wage has increased. From January 1, 2024, its amount is UAH 7,100.0, and from April 1, it will increase to UAH 8,000. The change in the size of the minimum wage also affects some indicators that are taken into account when calculating insurance payments for insurance in connection with temporary loss of working capacity.
Thus, Article 12 of the Law of Ukraine dated September 23, 1999 No. 1105-XIV "On Mandatory State Social Insurance" provides that insured persons who, according to the Register of Insured Persons, acquired less than 6 months of insurance experience, are entitled to insurance payments in accordance with this Law in the following amounts:
assistance in connection with temporary disability - based on the accrued salary (income), from which insurance contributions are paid, but not more than the amount of assistance calculated from the minimum salary established at the time of the occurrence of the insured event;
assistance in connection with pregnancy and childbirth - based on the accrued salary (income), from which insurance premiums are paid, but not more than the amount of assistance calculated from twice the amount of the minimum salary established at the time of the occurrence of the insured event. That is, for such persons, the maximum amount of assistance for 1 calendar day will be:
— for insured events that began on January 1.2024:
a) temporary disability benefit - UAH 233.25;
b) pregnancy and childbirth allowance — UAH 466.49;
— for insurance cases that began on April 1, 2024:
a) temporary disability benefit — UAH 262.81;
b) maternity allowance — UAH 525.62.
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About the minimum amount of assistance in connection with pregnancy and childbirth
According to the legislation, the amount of the benefit in connection with pregnancy and childbirth calculated per month cannot be less than the amount of the benefit calculated from the minimum wage established at the time of the occurrence of the insured event. Thus, the minimum amount of maternity benefits for 1 calendar day in 2024 will be:
for insurance cases that began on January 1, 2024 — UAH 233.25;
for insurance cases that began on April 1, 2024 — UAH 262.81.
The size of the maximum value of the calculation base of the EUS
It should be noted that with the change in the size of the minimum wage, the size of the maximum value of the calculation base of the EUV has changed accordingly:
from 01.01.2024 — UAH 106,500.0;
from 01.04.2024 — 120,000.0 hryvnias.Since the amount of benefit in connection with temporary incapacity for work (including care for a sick child or a sick family member) and the amount of benefit for pregnancy and childbirth calculated per month should not exceed the maximum amount of the calculation base of the single contribution, the maximum amount of the benefit for 1 day, both for temporary incapacity and for pregnancy and childbirth will be:
from 01.01.2024 — UAH 3,498.69;
from 01.04.2024 — 3942.18 hryvnias.
