Putin Approves July Minimum Wage Increase

Payroll on Bloomberg Tax is built to get you to the right answer faster and more efficiently. Get all the payroll intelligence you need with Bloomberg Tax expert analysis, perspectives and...

By Molly Ward

June 2—Russian President Vladimir Putin signed June 2 a law to raise the federal monthly minimum wage to 7,500 rubles ($111.75) from 6,204 rubles ($92.44) effective July 1.

The national minimum wage in Russia is set at the federal level, applies uniformly in every area of the country and is statutorily linked to be not less than the cost of living for an able-bodied person, excluding bonuses and other non-wage remuneration. However, many local governments enact minimum wage rates that are significantly higher than the national rate. Moscow's monthly minimum wage, for example, is 17,300 rubles ($257.77) per month.

To contact the reporter on this story: Molly Ward at mward@bna.com

To contact the editor responsible for this story: Michael Baer at mbaer@bna.com

For More Information

Federal Law 164-FZ can be found in Russian at http://publication.pravo.gov.ru/Document/View/0001201606020022.

More information on payroll issues in Russia can be found in the Russia country primer.

Request Payroll