of June 17, 1992 No. 174
About indexation of cash incomes and savings of citizens in the Azerbaijan Republic
This Law establishes organization-legal bases of indexation of cash incomes and savings of citizens in the Azerbaijan Republic in connection with increase in prices for consumer goods and rates for paid services (further - consumer prices).
Indexation - the mechanism of increase in cash incomes and savings of citizens established by the state for the purpose of protection of consumer capability of the population in connection with growth of consumer prices of the territories of the Azerbaijan Republic.
Basis of indexation of cash incomes and savings of citizens is the consumer price index. The consumer price index in the Azerbaijan Republic is estimated according to the basket of the minimum consumption accepted for calculation of subsistence minimum of the population based on the statistical data obtained as a result of observations of the change in price in the state, cooperative and private trade and also rates of paid services on all objects of service industry irrespective of patterns of ownership.
Observations of change of consumer prices are performed by the special public service operating as a part of statistical bodies of the republic.
Information on consumer price index and change of growth of cash incomes (compensation, pensions, benefits, grants), and also the minimum level of compensation established in the Azerbaijan Republic and other basic data necessary for indexation are published quarterly in seal.
Indexation is performed if the consumer price index estimated in the accruing result from the moment of the previous indexation will exceed 5 percent threshold.
Indexations are subject:
compensation of employees of the companies, organizations and organizations (further - the companies);
national pensions, grants, social benefits (to families with children, in connection with staff reduction, temporary disability, pregnancy and others), except one-time;
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