Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

LAW OF THE KYRGYZ REPUBLIC

of June 26, 1996 No. 23

About ensuring timeliness of salary payment, pensions, benefits and other social payments

(as amended on 18-12-2015)

Accepted by General Court of Jogorku Kenesh of the Kyrgyz Republic on May 22, 1996

Article 1.

The payment delay of the salary, pensions, benefits and other social payments is not allowed. Lack of means does not exempt from liability for nonpayment of the salary, pensions, benefits in time in full.

Article 2.

The salary, pensions, benefits and grants are paid only in national currency of the Kyrgyz Republic.

Article 3.

Payment due dates are established by the companies of the salary and other social payments following from labor agreements, and also compensations and grants in collective agreements, agreements and contracts at least, than once a month.

Article 4.

Payment due dates of pensions and benefits are established (at least once a month) in contracts between the companies performing payment and authorized bodies in the sphere social and provision of pensions or non-state pension funds (further - funds).

Article 5.

State bodies, the companies and employers, more than five days, guilty of delay of salary payment, pensions, benefits and other social payments, pay them to receivers taking into account officially the established rate of inflation, and also compensate penalty fee for each overdue day in the amount of 0,15 of percent from outstanding amount.

Total amount of the penalty fee specified in part one of this Article cannot exceed 200 percent from principal amount. This restriction of maximum amount of penalty fee is applied only to the period from the moment of delay by state bodies, companies and employers in salary payment, pensions, benefits and other social payments and before presentation by the worker of the written requirement about payment of overdue outstanding amount. After sight restriction of maximum amount of penalty fee is not applied by the worker of the written requirement to state bodies, the companies and employers of the requirement about payment of overdue outstanding amount also the penalty fee specified in part one of this Article charged about day of the actual calculation.

Article 6.

When opening settlement and current accounts in organizations of banks the contract for settlement and cash servicing between organizations of banks and the companies with indication of terms of cash disbursement of money for salary payment, pensions, benefits and other social payments and responsibility of the parties for their execution shall be signed.

The refusal of bank of inclusion in the service agreement of obligations on cash disbursement of money for salary payment in the terms established by the company attracts responsibility according to the legislation of the Kyrgyz Republic, including deprivation of the license for banking operations.

In case of refusal bank in cash disbursement of money for salary payment in the presence on customer accounts of means in the day established by the service agreement and in the presence of complete settling of the client with funds, the bank after two banking days compensates to the company the suffered losses, the stipulated in Article 5 these Laws if other is not provided by the agreement.

Article 7.

Funds, social welfare institutions, the organizations of communication, banks guilty of payment delay of pensions and benefits, after two banking days compensate expenses on social insurance and losses of the companies in the amount of the amounts paid by them.

Article 8.

The financial bodies which did not open timely the financing, superior organizations which detained timely money transfer to the companies, organizations financed from the government budget compensate their losses in the amount of the amounts paid by them.

Article 9.

The companies shall make money transfer in funds in the day of salary payment established in collective agreements, agreements, contracts.

In case of violation of the terms specified in part one of this Article, the companies pay to funds losses, the stipulated in Article 5 these Laws. Charge and payment of losses are made in indisputable procedure through the relevant accounts departments.

Article 10.

The lack of means of authorized body of the sphere social and provision of pensions on pension payment is replenished with means from the republican budget.

Article 11.

The officials guilty of untimely salary payment, pensions, benefits and other social payments and paid them without officially the established rate of inflation, and also not compensated penalty fee, bear responsibility according to the legislation of the Kyrgyz Republic.

Article 12.

This Law becomes effective from the first day of the next month after publication.

 

President of the Kyrgyz Republic

A. Akayev

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

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