New minimum living wage starting from 2024: the Draft has been prepared

Legal Digest News
A draft law has been submitted to the State Duma establishing a new minimum living wage in 2024.

If the draft law is adopted by the State Duma in the final reading and signed by the President of the Russian Federation, then starting from January 1, 2024, the federal minimum wage will increase by 18.5% and amount to 19,242 rubles. Currently, its amount is 16,242 rubles.

The figure is calculated based on the growth rate of the minimum wage, which exceeds by three percentage points the growth rate of the subsistence minimum of the able-bodied population of Russia as a whole.

The federal minimum wage is applied to regulate the amount of payment for labour, and is also used to calculate temporary disability allowance in the following cases:

  • if an employee has no earnings in the payment period or his or her earnings are less than the minimum wage;
  • if the employee's experience is less than 6 months;
  • if an employee did not comply with the treatment regimen, and the doctor made a note in the sick leave.

Apart from the federal minimum wage, the territorial entities of the Russian Federation set their own minimum wage figure. Preliminary, for 2024, its regional amount is:

  • for St. Petersburg - 23,500 rubles;
  • for Moscow – 24,801 rubles.

Acsour monitors changes in the minimum wage and will inform you about the need for adjustments to human resources documents.