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Russia Sets Single Contribution Basis Cap for Social and Pension Insurance for 2024

|Approved Changes|Russia
Russia

Russia has published Decree No. 1883 of 10 November 2023 in the Official Gazette, which sets the single annual contribution basis (salary) cap for contributions for social and pension insurance in 2024 at RUB 2,225,000. Based on this cap, a combined contribution rate of 30% applies on salary up to RUB 2,225,000 (2.9% social insurance, 22.0% pension insurance, and 5.1% medical insurance), and a combined rate of 15.1% applies on salary exceeding RUB 2,225,000 (10.0% pension insurance and 5.1% …

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