The Law of 765-VQ of June 30, 2017, "On Insurance of Unemployment" comes into force from January 1, 2018. Article 6 of the same Law also covers the insurer's obligations to insure unemployment, to pay the insured employees’ salary and insurance premiums to the insurance body on the basis of the tariffs established by this Law, to correctly calculate and transfer the insurance premium and report to the insurance body about it.
Considering the following, we would like to bring to your attention:
- Under the Article 13 of the Law of the Republic of Azerbaijan "On Social Insurance", insured persons registered at the State Social Protection Fund under the Ministry of Labour and Social Protection of the Population of the Republic of Azerbaijan (hereinafter referred to as the Fund) are considered to be registered in the Fund for unemployment insurance purposes.
- The registration number (SUN) issued by the Fund for compulsory state social insurance of the insured is also considered to be a registration number in the Fund for unemployment insurance purposes.
- Individuals registered in the state social insurance system for compulsory state social insurance (only those employed in employment contracts) are considered to be registered with the unemployment insurance in the Fund.
- Unemployment insurance premiums paid to the Fund are not taken into account in individual accounts of insured persons.
- The unemployment insurance fee is paid by the insurer in the amount of 0.5 per cent of the calculated remuneration fund and 0.5 per cent of the employee's salary.
- The Law of the Republic of Azerbaijan "On Unemployment Insurance" does not specify the exemption from unemployment insurance calculation.
- Insurance premiums for each month are paid by the insurer at the same time as the payroll, but not later than the 15th of the following month.
- The insurance premiums report to the Ministry of Taxes of the Republic of Azerbaijan separately for each quarter, not later than the 20th of the first month following that quarter. If April, July, October and January 20 are non-business days, the submission deadline will be increased until the first working day following the 20th of the month.
- Administrative sanctions are imposed on unemployment insurance, unauthorized accounting of remuneration and transfer of insurance premiums and failure to submit report to the insurance body, timely transfer of insurance premiums.