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IMPACT – MEDIUM
Reports on the salaries paid to highly qualified specialists during the third quarter of 2020 (July through September) must be submitted by Oct. 30. The reports, which employers must complete to show that they have met minimum salary payment levels, are required quarterly.
Additional Information: The reported salary should not be less than the minimum HQS level (in standard conditions) of 167,000 rubles per calendar month or 501,000 rubles per quarter. The quarterly figure applies if there was a break in work during the reported period. Violation of the established notification form or procedure or non-notification can result in fines on employers ranging from 35,000 to 70,000 rubles for officials and 400,000 to 1,000,000 rubles for legal entities. Failing to pay the minimum salary established for HQS employees can result in a company being banned from employing new HQS employees for two years.
Analysis & Comments: Companies should ensure that they submit their quarterly reports on time and that the salaries comply with wage thresholds for HQS workers.
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