According to the law, from 2024 in the Russian Federation the minimum wage will increase by 18.5%, and also from 2025 the ratio of the minimum wage to the median salary will not be lower than 48%.

The law will establish that the minimum wage from January 1, 2024 in the amount of 19,242 rubles. per month with an increase of 18.5% compared to the previous year, in addition, the ratio of the minimum wage and median wage of no less than 48% from 2025.

Chairman of the State Duma Vyacheslav Volodin, commenting on the law, emphasized that President Vladimir Putin had given instructions to increase the minimum wage by 18.5% from January 1, 2024.

“An important decision that will protect people and increase real incomes. As a result of the implementation of this order, wages will increase for 4.8 million people,” Volodin said.

The amount of benefits for temporary disability, maternity leave, sick leave and other mandatory social insurance payments depends on the minimum wage, the Chairman of the State Duma recalled. Currently, the minimum wage is 16,242 rubles.