LAW OF THE AZERBAIJAN REPUBLIC

of February 18, 1997 No. 250-IQ

About social insurance

This Law governs the relations in the field of social insurance, determines legal, economic and organizational basis of social insurance in the Azerbaijan Republic.

Chapter I. General provisions

Article 1. Basic concepts

1.1. The main terms used in this Law have the following values:

1.1.1. social insurance - the providing form directed to compensation of the lost salary, the income or additional expenses of physical persons and also on prevention of their loss, in the cases provided by this Law;

1.1.2. Subsidizing of fees of compulsory national social insurance - the non-paid financial resources paid to insurers (insured) body (organization) determined by relevant organ of the executive authority for the purpose of compensation for the account of means of the government budget of part, the stipulated in Article 14-1 this Law of the fees of compulsory national social insurance paid by insurers (insured);

1.1.3. available funds - the positive balance determined between the income and expenses by semi-annual and annual results of budget implementation of the state Social Security Fund;

1.1.4. investment revenue - difference between the means received as a result of implementation of investing activities and costs for receipt of these means;

1.1.5. case of social insurance - the cases, the stipulated in Article 4 presents of the Law which are the basis for payment of insurance payment to insured person;

1.1.6. the insurer - bodies (organizations) and legal entities determined by relevant organ of the executive authority, performing activities for compulsory national social insurance or voluntary insurance (except for control of calculation and payment of fees on compulsory national social insurance) and exercising control of insurance funds according to the legislation. Azerbaijan Republic;

1.1.7. insurers - the legal entities acting in the Azerbaijan Republic, irrespective of patterns of ownership and legal form, the created according to the legislation of the Azerbaijan Republic or foreign state, their branches and representations, elected bodies, state bodies, and also other persons performing social insurance for themselves or other persons;

1.1.8. insured persons are persons for the benefit of whom the insurance activity is performed;

1.1.9. insurance years of service of insured person - the total period of labor activity for which the fee on compulsory national social insurance for benefit of insured person is paid;

1.1.10. compulsory state contribution of social insurance - the money paid to the insurer for insurance;

1.1.11. the state Social Security Fund - the trust state financial fund which is in state-owned property, managed by body (organization) determined by relevant organ of the executive authority, the having independent budget out of the government budget.

1.2. Other concepts used in this Law express the values determined by regulatory legal acts of the Azerbaijan Republic.

Article 2. Forms of social insurance

Social insurance is performed in forms of compulsory national social insurance and voluntary (additional) insurance.

Compulsory national social insurance is performed by insurers concerning all persons working according to employment contracts (contracts). In the cases provided by this Law also other persons can be involved in compulsory national social insurance.

Article 3. Principles of social insurance

The principles of social insurance are:

* state guarantee of continuity of social insurance;

* generality of social insurance;

* ensuring social insurance in case of all cases of loss by the worker of working capacity;

* equality of subjects of social insurance;

* obligation of the national social insurance;

* ensuring participation of public organizations in management of compulsory national social insurance.

Article 4. Social insured event

Part one voided.

Treats social insured event:

* achievement of retirement age;

* disability establishment;

* loss of the supporter of family;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info