Payments upon dismissal of top managers will limit a half-year salary

The Ministry of Labor and Social Protection of the Russian Federation agreed with the relevant departments of amendments to the Labor Code, which will limit the amount of payments to top managers upon dismissal of state-owned companies from three to six monthly salaries, Rossiyskaya Gazeta reports. The bill may be submitted to the government at the end of summer.

The amendments prepared by the Ministry of Labor in early July apply to the weekend allowances in federal state unitary enterprises, as well as in corporations and joint -stock companies, where the share of state participation exceeds 50%.

Initially, a proposal was discussed to limit the “ceiling” of payments 12-16 monthly salaries. But in the end, in the project prepared by the Ministry of Labor, a more modest figure appears: a maximum of six salaries. This applies to managers and deputy heads of government agencies, chief accountants, as well as members of the board of directors. Labor agreements with them should be renegotted within three months after amendments entered into force.

President Vladimir Putin on March 29 announced the need to think over and introduce restrictions on the size of "gold parachutes" - benefits paid to top managers upon dismissal. The application was made two days after the head of Rostelecom, the head of the Rostelecom company, was sent to resign, which amounted to 233 million rubles, including the Golden Parachute, in 201 million rubles.