Disability fund payments are social security payments the purpose of which is to promote the integration of disabled people in the Armenian labor market. They are collected by the Armenian government from organizations with more than 100 employees and used specifically for addressing social and health issues faced by disabled people. The law requires such companies to either allocate at least 1% of the existing jobs (3% in case of government agencies) to people with disabilities or make a disability fund payment in the amount of  AMD 300,000 (around USD 640) per position. Failure to make the disability fund payments will result in penalties in the amount of 0.15% for each day in arrears.

By | 2015-10-04T17:38:01+04:00 September 3rd, 2015|Taxation|Comments Off on Disability Fund Payments