Social Index for the third quarter is set

Social Index in Tatarstan for the third quarter 2013 equals 107,3% or 102,4% at an average for each month of the quarter.

The Index is approved by No.7 Decree of the Ministry of Labour, Employment and Social protection from 19 November 2013 in accordance with the proposition of Republican joint committee on social index determination and with the purpose to protect interests of people employed in the economy.

In compliance with the committee decision, an average monthly salary growth index for businesses and organizations, including small business entities, was took as a basis. This index amounted to 1,060 in July-September 2013. The Social index for the third quarter 2013 would consequently equal 107,3% or 102,4% at an average for each month of the quarter.

The Social index is proved to be a benchmark for raising tariffs and fixed salary for employees. Enterprises that have enough funds for wages indexation are recommended to apply it.