The Law on Social Insurance, 2006 is a law providing for social insurance regimes and policies, the rights and responsibilities of insured laborers, agencies, organizations and individuals; social insurance organizations; social insurance funds; procedures for implementation of social insurance and state management of social insurance.
This law is applicable to the all the persons working under contracts of indefinite term or contracts of a term of full three months or longer. Under Article 18 of the law, the employer shall have the following obligations:
. To pay social insurance premiums and make monthly deductions from the salaries or
remuneration
. To preserve social insurance books of the employees during their working term
. To return social insurance books to the employee when they cease to work
. To pay social insurance allowances to employees
. To supply relevant documents and information at the request of competent state bodies.
The employer is required to make the payments on the funds of social insurance payment from the salaries and remuneration in the following manner:
a. 3% for the Sickness and maternity fund – 2% shall be withheld to pay in time;
b. 1% for the Labor Accident and Occupational Disease Fund;
c. 11% for the Retirement and Survivorship allowances. an additional 1% for every two years until the payment level reaches 14%;
d. 1% for the unemployment insurance fund.
