Latest Information Concerning Minimum Wage, Social Security Premium and Salary Tax in Iranian Fiscal Year 1389
FOR INFORMATION
Minimum Wage
1- In accordance with the decisions of the
High Council of Labor, in 1389 fiscal year (starting March 21, 2010), minimum
daily wage of permanent workers will increase to Rls. 101,000 per day. Other
wage levels will have an increase equal to 7% of basic salary plus Rls. 7,011
per day (given it will not be less than 101,000 per day).
2-
For each year of work,
Rls. 2,000 per day is payable as "seniority premium".
3-
Basic commodities (food)
coupons will be Rls. 100,000 per month for all workers.
4-
Child allowance will be
Rls. 303,000 per month for each child (maximum payable for two; ie Rls. 606,000)
5-
Housing allowance will
be Rls. 200,000 per month.
Social Security Premium
6-
The ceiling for
deduction of social security premium in 1389 (fiscal year ending March 20,
2011), as per ratification of Social Security High Council, is Rls. 101,000 per
day.
Summary of changes are
herewith enclosed in table No.1.
Salary Tax
7-
Annual exemption of
salary tax in 1389 fiscal year (ending March 20,2011) will be Rls.52,500,000
(Rls. 4,375,000 per month)
Detailed chart of salary
tax is presented in table No.2.
RYMAND & CO.
TABLE NO. 1
SUMMARY OF CHANGES IN MINIMUM WAGE, SOCIAL SECURITY PREMIUM, SALARY TAX AND
BENEFITS
(Year Ending March 20,
2011)
|
|
2010-2011
Rls. |
2009-2010
Rls. |
|
Minimum Daily Wage |
101,000 |
87,840 |
|
Minimum
Monthly Wage (Months of 30 Days) |
3,030,000 |
2,635,200 |
|
Seniority
Premium (Per Day for Each Year of Work) |
2,000 |
1,250 |
|
Increase in Other Wage Levels(Daily) |
%7 basic salary plus
Rls.7,011* |
%5 basic salary plus
Rls.9,150 |
|
Child Allowance (for Each Child) Monthly |
303,000 |
263,520 |
|
Child
Allowance (Maximum Two Children)Monthly |
606,000 |
527,040 |
|
Food Coupons Monthly |
100,000 |
100,000 |
|
Residence Allowance Monthly |
200,000 |
100,000 |
|
Ceiling
for Deduction of Social Security Premium (Daily) |
707,000 |
614,880 |
|
Annual
Salary Tax Exemption |
52,500,000 |
50,000,000 |
* Given it
will not be less than Rls. 101,000 per day
RYMAND & CO.
TABLE NO. 2
Employees of Non-governmental Sector
(Year Ending March 20,
2011)
|
Annual Salary |
|
Tax Rate |
|
Annual Tax |
|
Rls. |
Rls. |
Rls. |
|
52,500,000 |
|
Exempted |
|
42,000,000 |
10% |
4,200,000 |
|
94,500,000 |
|
4,200,000 |
|
|
|
|
|
58,000,000 |
20% |
11,600,000 |
|
152,500,000 |
|
15,800,000 |
|
|
|
|
|
150,000,000 |
25% |
37,500,000 |
|
302,500,000 |
|
53,300,000 |
|
|
|
|
|
750,000,000 |
30% |
225,000,000 |
|
1,052,500,000 |
|
278,300,000 |
|
|
|
|
|
Excess |
35% |
|
|
