What is payer of social insurance contributions in SAP PY-RU - Russia?

SAP Term: payer of social insurance contributions

• Component: PY-RU

• Component Name: Russia

• Description: The body, organization, or sole proprietor in that makes social insurance contributions to the n Pension Fund and medical insurance funds for its employees. The authorities use different categories to determine the rates for social insurance contributions that are required for each type of payer of social insurance contributions. For example, the rates for agricultural companies and companies registered in special economic zones differ from the rates for regular companies that are not located in special zones.

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• Key Concepts: 
  Payer of social insurance contributions is a term used in the SAP PY-RU Russia component. It refers to an employer or other entity that is responsible for making payments to the social insurance fund. This payment is made on behalf of employees and is used to cover their social insurance benefits. 
  
  How to use it: 
  In order to use this term, employers must first register with the social insurance fund and provide information about their employees. This information includes the employee's name, address, and salary. Once registered, employers must make regular payments to the fund in order to cover their employees' social insurance benefits. 
  
  Tips & Tricks: 
  It is important for employers to keep track of their payments to the social insurance fund in order to ensure that they are up-to-date and accurate. Employers should also be aware of any changes in the law that may affect their obligations as payers of social insurance contributions. 
  
  Related Information: 
  For more information about payers of social insurance contributions, please refer to the official website of the Russian Social Insurance Fund (http://www.fss.ru/). Additionally, employers can contact their local tax office for more information about their specific obligations as payers of social insurance contributions.