In accordance with the Law "On Compulsory Social Insurance 'social contributions - compulsory payments paid to the State Social Insurance Fund, entitling them to participate in the statutory social security system, for which social contributions, receive social benefits in the event of:
• loss of employment;
• loss of income due to pregnancy and childbirth;
• loss of income due to the adoption (adoption) of a newborn baby (children); loss of income due to caring for a child reaches the age of one year.
Payers of social contributions are the employer or self-employed person. In this case, the payment of social security contributions on a monthly basis.
It should be noted that the social contribution rate from January 1, 2018 amounts to - 3.5% of the social contribution calculation object.
The object of calculation of social contributions - employer costs paid to the employee in the form of income for work performed, services rendered. The object for the calculation of social security contributions of self-employed persons is income received by him
In this monthly income is taken for the calculation of social security contributions in an amount not exceeding ten times the minimum wage established by law on the republican budget for the corresponding fiscal year.
If social contribution calculation object per calendar month less than the minimum wage established by the law on the national budget and applicable as of January 1 of the relevant financial year, the social security contributions are calculated, are listed on the basis of the minimum wage.