MINIMUM WAGE IN UKRAINE: WHAT WILL CHANGE FROM 1 APRIL?
The Law of Ukraine "On the State Budget of Ukraine for 2024" dated 09.11.2023 No. 3460-IX provides for the establishment of the minimum wage in 2024:
- in the monthly amount: from 01 April - UAH 8000;
- in the hourly rate: from 1 April - UAH 48.
Thus, starting from 1 April 2024, the minimum wage will increase from UAH 7100 to UAH 8000.
The increase in the minimum wage will affect the following indicators
- the minimum amount of the unified social tax per month on employees' salaries and income of individual entrepreneurs will increase from UAH 1,562 to UAH 1,760 from 1 April
- the maximum amount of the unified social tax base per month will increase from 1 April from UAH 106500 to UAH 120000;
- the maximum amount of the accrued unified social contribution per month will increase from UAH 24430 to UAH 26400 starting from 1 April.
The subsistence minimum will not change.
Also, starting from 1 April 2024, the amount of "labour" financial penalties applied in accordance with Article 265 of the Labour Code of Ukraine will increase, in particular
- in the case of actual admission of an employee to work without an employment contract - UAH 80,000 (10 times the minimum wage at the time of the violation);
- for violation of the established terms of payment of wages to employees, other payments stipulated by the labour legislation for more than one month, payment of them not in full - UAH 24,000 (3 times the minimum wage at the time of detection of the violation);
- non-compliance with minimum state guarantees in labour remuneration - UAH 16,000 (2 times the minimum wage at the time of the violation, for each employee in respect of whom the violation was committed).
