LAW OF TURKMENISTAN

of August 16, 2014 No. 113-V

About modification and amendments in the Law of Turkmenistan "About the national pension insurance"

I. Bring in the Law of Turkmenistan of March 31, 2012 No. 287-IV "About the national pension insurance" (Sheets of Majlis of Turkmenistan, 2012, No. 1, Art. 38; 2013, No. 4, Art. 91) following changes and amendment:

1. 3 parts one of Article 19 to state Item in the following edition:

"3) for the lessees specified in item 4 of part two of article 7 of this Law – net income. At the same time the maximum size of the net income accepted for calculation of pension contributions shall not exceed the sixfold size of the minimum wage across Turkmenistan established by the legislation of Turkmenistan.".

2. 3 parts one of Article 20 to state Item in the following edition:

"3) for the lessees specified in item 4 of part two of article 7 of this Law – on in the amount of at least 10 percent from net income for the accounting period. At the same time the size of the net income accepted for calculation of pension contributions shall not exceed the maximum size of the net income accepted for calculation of pension contributions, stipulated in Item 3 parts one of article 19 of this Law;".

3. The second Article 34 to add part with item 4 of the following content:

"4) to payment by lessees of pension contributions on.".

4. The sixth Article 39 to state part in the following edition:

"6. Financial sanctions are not applied to budgetary institutions, and also to daykhansky associations regarding calculation, payment of pension contributions and submission of the declaration for lessees.".

II. This Law becomes effective from the date of its official publication.

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