Weekly economic review (8.11- 12.11.2010)

The Cabinet of Ministers has approved the tariffs for compulsory insurance on labor ability loss in production, the Cabinet of Ministers said. Tariffs vary depending on the risk level of economic activity and the categories of employees.

According to a decision of the Cabinet of Ministers adopted earlier, workers who will be insured are divided into categories by industry - services, repairs, cargo transportation, storage and security, and by rank - managers, specialists and technicians.

Tariffs on compulsory insurance for employees involved in various economic activities, and related to the first level of risk (housing services, software development, information services, financial services, insurance, reinsurance, pensions, legal and accounting activities) is defined at 0.2 percent of the salary fund and at 0.4 percent for workers.

Activities relating to the second level of risk (the sale of automobiles and their spare parts, retail and wholesale, activities not related to the sale of cars and motorcycles, postal and courier activities, services for the sale of food and drinks, production of movies, videos and television programs, sound recording and musical work, the preparation and broadcasting of radio and television broadcasts, the activities in the field of information technology and computer technology, real estate operations, architecture and engineering, research and development in the field of natural sciences and engineering, rental and leasing, cleaning works, education, health, social services, activities in the field of art and organizing mass cultural entertainment programs, work in libraries, archives, museums and other cultural institutions, the organization of gambling, recreation and entertainment) for employees is defined at 0.2 percent of the salary fund and 0.5 percent for workers.

The tariff for employees related to the third level of risk (growing annuals and perennials, planting, cloth production, printing and typographic activity, production of toys and games, veterinary activities) is defined at 0.2 percent of the salary fund, and 0.6 percent for workers.

For activities related to the fourth level of risk (livestock services in the sphere of agriculture, fish breeding, production of dairy products, the production of soaps, detergents, perfumes, cosmetics, pharmaceutical products, sale of motorcycles and their spare parts, maintenance and repairs), the tariff for employees is defined at 0.2 percent of the salary fund, and 0.8 percent for workers.

The tariff for employees involved in economic activities related to the fifth level of risk (hunting, production and processing of meat products, flour and flour products production, the production of prepared animal feeds, production of drinks, weaving industry, conducting investigations and ensuring security, the production of leather and leather products, manufacture of central heating boilers, sport activities) is defined at 0.2 percent of the salary fund, and 0.9 percent for workers.

For activities relating to the sixth level of risk (production of computer, electronic and optical products, jewelry, musical instruments, sport items, computer repair, personal items, household goods), the tariff is defined at 0.3 percent of the salary fund for employees and one percent for workers.

The tariff for employees involved in economic activities related to the seventh level of risk (canning, processing of fruits and vegetables, production of vegetable, animal fats and oils, manufacture of tobacco products, glass and glass products, paper and cardboard, fire-proof products, construction materials, processing of metals, collection, recycling and elimination of garbage, technical testing and control) is defined at 0.3 percent of the salary fund and 1.2 percent for workers.

For activities relating to the eighth level of risk (production of rubber and plastic products, shipbuilding, passenger and cargo transportation by rail, water transport and air transport activities, communication), the tariff is defined at 0.3 percent of the salary fund for employees, and 1.4 percent for workers.

The tariff for employees involved in economic activities related to the ninth level of risk (wood processing, production of arms and ammunition, machinery, furniture, medical instruments, activities in the field of freight transport by road) is set at 0.4 perent of the salary fund and 1.5 percent for workers.

For activities relating to the tenth level of risk (the production of lacquers and paints, chemical products, electric wires and appliances, electric lamps and other lighting equipment, household appliances), the rate is set at 0.4 percent of the salary fund for employees, and 1.6 percent for workers.

The tariff for employees involved in economic activities related to the eleventh level of risk (processing and canning of fish, crustaceans and molluscs, the production of abrasive products and other nonmetallic mineral products, manufacture of general purpose machinery) is set at 0.4 percent of the salary fund for employees, and 1.7 percent for workers.

For activities relating to the twelfth risk level (fishing, production of pig iron, steel, steel pipes, electric motors, generators, transformers and electrical switchboards and control instruments, machinery and equipment for agriculture and forestry, motor vehicles, trailers, rail facilities, military vehicles), the tariff is set at 0.5 percent of the salary fund for employees, and 1.8 percent for workers.

The tariff for employees involved in economic activities related to the thirteenth level of risk (delivery of services in the field of forestry, production of coke and refined petroleum products, cement, lime, gypsum, machinery and special purpose equipment, metal casting, provision with electricity, gas, condensed steam and air, storage, treatment and distribution, accumulation and recycling of dirty water, demolition and construction areas, specialized construction work) is set at 0.5 percent of the salary fund, and 1.9 percent for workers.

For activities relating to the fourteenth risk level (production of hard coal and lignite, crude oil and natural gas, metal ores, and other areas of hydrocarbon production industry, providing services in these areas, the production of agrochemical products, articles of concrete, plaster, cement, cutting decorative and building stone, primary processing of iron and steel, building steel structures, tanks, radiators and boilers, batteries and accumulators, the flying machines, including aerospace, building construction, civil construction work) the tariff is set at 0.5 percent of the salary fund for employees, and two percent for workers.

The cabinet's decision comes into force from the date of signing - on Nov. 5.

Azerbaijani President Ilham Aliyev approved the law on compulsory insurance on labor ability loss in production in July.  

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