How to correctly specify in an employment contract the amount of the percentage bonus (for example, 10%) for work in areas equivalent to the districts of Kr. North.

Answer

The employment contract can indicate: “A percentage increase in wages for length of service in the Far North is paid in accordance with the law.” This is explained by the fact that the amount of the bonus is regulated by law and cannot be changed by an employment contract.

You can also indicate: “For work experience in the Far North, a percentage increase in wages of 10% is paid.” At the same time, the amount of the percentage premium must correspond to the amount established by law. Also, when the size of the percentage increase changes, it will be necessary to conclude an additional agreement to the employment contract (see).

For more details on this, see the materials in the justification.

The rationale for this position is given below in the materials of the “Lawyer System” .

« How to determine the size of the percentage bonus for work in the Far North

The amount of the percentage bonus for work in the Far North depends on:

• from the area in which the employee works;
• on the employee’s age;

• on the duration of his work (residence) in a given region.

This follows from the provisions of Article 317 of the Labor Code of the Russian Federation, paragraph 16 of the Instructions approved by order of the Ministry of Labor of the RSFSR dated November 22, 1990 No. 2, paragraph 6 of the Instructions approved by order of the Ministry of Labor of the RSFSR dated November 22, 1990 No. 3, orders of the Government of the RSFSR dated December 26 1991 No. 199-r.

For example, in the Far North regions no bonus is paid during the first six months of work. In areas equated to the regions of the Far North, salary bonuses begin to be paid after a year of work (clause 16 of the Instruction, approved by order of the Ministry of Labor of the RSFSR dated November 22, 1990 No. 2). For more information about the amounts of percentage allowances, see the table.

Employees under 30 years of age are entitled to an increased bonus. However, in order to take advantage of the increased percentage increase, they need to live in the corresponding region for at least one year (clause 16 of the Instruction, approved by order of the Ministry of Labor of the RSFSR dated November 22, 1990 No. 2).

Special rules for calculating interest allowances may be established in industry agreements. However, such agreements are binding for commercial organizations only if they join them (Article 48 of the Labor Code of the Russian Federation). For example, employees in the coal industry under 30 years of age are entitled to a preferential procedure for calculating bonuses. Unlike the general procedure, they have the right to a bonus from the first day of work. However, to do this, such employees must have lived in the Far North (equivalent areas) for at least five years. This is stated in paragraph 3.2.9 of the Federal Industry Agreement on the Coal Industry for 2010-2012.

When calculating a higher interest surcharge, please comply with the general maximum limit in that region. That is, in the regions of the Far North it is impossible to charge a premium of more than 100 or 80 percent of earnings. And in areas equated to the regions of the Far North - more than 50 percent (for more details, see the table).

Such rules are provided for in paragraph 16 of the Instruction, approved by order of the Ministry of Labor of the RSFSR dated November 22, 1990 No. 2, and paragraph 6 of the Instruction approved by order of the Ministry of Labor of the RSFSR dated November 22, 1990 No. 3.

Experience for bonus

Does the bonus for working in the Far North depend on the employee’s work experience in this region?

Percentage increases depend not only on the region and age of the employee, but also on his work experience in a given region (Article 317 of the Labor Code of the Russian Federation). The length of service giving the right to receive bonuses is determined in calendar days of work in the relevant region on an accrual basis. Breaks in work and their duration, as well as the reasons for termination of the employment relationship do not affect the procedure for calculating length of service. This follows from the provisions of paragraph 1 of the Decree of the Government of the Russian Federation of October 7, 1993 No. 1012 and the established judicial practice, the general approach of which is set out in the review of the Supreme Court of the Russian Federation dated February 26, 2014.

The duration of work experience to receive a percentage bonus is determined by the work book or by certificates issued by organizations* (clause 33 of the Instructions approved by order of the Ministry of Labor of the RSFSR dated November 22, 1990 No. 2, clause 28 of the Instructions approved by order of the Ministry of Labor of the RSFSR dated November 22, 1990 . No. 3).

For shift workers working in the Far North and equivalent areas, the length of service includes:

• actual time (calendar days) of the shift in the regions of the Far North and areas equivalent to them;
• actual days of travel (provided for by the shift work schedule) from the gathering place (location of the organization organizing the work) to the place of work and back.

Such rules are established in Article 302 of the Labor Code of the Russian Federation.

How to calculate a bonus for work in the Far North

The bonus is accrued from the date the employee becomes entitled to it. For part-time workers working in the organization, accrue percentage bonuses for length of service in the Far North regions in the same way as other employees (Part 3 of Article 285 of the Labor Code of the Russian Federation).

Apply the bonus to the employee’s actual earnings, including remunerations for length of service and based on the results of work for the year, provided for by the remuneration system. Do not apply a surcharge*:

• to the regional coefficient;
• for payments based on average earnings, for example, vacation pay, payment for business trips, etc.;
• for financial assistance;
• for payments that are of a one-time incentive nature and not determined by the remuneration system (bonuses for anniversaries, holidays, etc.).

This approach is confirmed by paragraph 19 of the Instruction, approved by order of the Ministry of Labor of the RSFSR dated November 22, 1990 No. 2, paragraph 7 of the Instruction approved by order of the Ministry of Labor of the RSFSR dated November 22, 1990 No. 3, paragraph 1 of the clarification approved by the resolution of the Ministry of Labor of Russia dated September 11, 1995 No. 49, and decisions of the Supreme Court dated December 1, 2015 No. AKPI15-1253 and July 17, 2000 No. GKPI00-315.

If bonuses are paid based on the results of work for any period, the amount of this bonus for calculating allowances is distributed among the months of the reporting period in proportion to the time worked. Such a distribution is necessary for the correct calculation of the northern bonus on the premium amount. When calculating a bonus on the bonus amount for a quarter, half a year, etc., be guided by the following. Apply the amount of the premium that is established for the month of the reporting period to which the premium amount relates.

This procedure for calculating the bonus is established by paragraph 19 of the Instruction, approved by order of the Ministry of Labor of the RSFSR dated November 22, 1990 No. 2, and paragraph 7 of the Instruction approved by order of the Ministry of Labor of the RSFSR dated November 22, 1990 No. 3.”

The interest rate specified in the loan agreement is one of the most significant terms of the loan; it is on the basis of this figure that the borrower decides to borrow money from the bank or not. In most cases, the bank, after studying the borrower’s package of documents and conducting credit scoring in one form or another, sets the interest rate, including depending on the lending conditions stipulated in the agreement between the parties to the agreement (bank and individual). In this article we will take a closer look at what is the maximum interest rate on a loan that can be set by a credit institution when applying for a consumer loan (from a bank) and when concluding a microloan agreement at an MFO.

Issues discussed in the material:

The procedure for drawing up a loan agreement and assigning interest on a loan is regulated by a number of legislative acts, in particular this is Part 1 of Art. 29, part 2 art. 30 of the Federal Law of December 2, 1990 N 395-1 “On Banks and Banking Activities”, Art. 819 of the Civil Code of the Russian Federation and clause 4, part 9, art. 5 of the Federal Law of December 21, 2013 N 353-FZ “On consumer credit (loan)”:

Interest rates on loans and (or) the procedure for determining them, including determining the interest rate on a loan depending on changes in the conditions provided for in the loan agreement, interest rates on deposits and commission fees on transactions are established by the credit institution by agreement with clients, unless otherwise provided by federal law.

Let's take a closer look at the restrictions regarding the interest rate under a consumer loan agreement. Our material applies equally to interest rates on credit agreements for both non-purpose purposes and consumer credit agreements.

Interest rate on a consumer loan at a bank

If we refer to Part 1 of Art. 9 of Law No. 353-FZ “On Consumer Credit (Loan)”, it stipulates that the determination of the interest rate under a consumer loan agreement is carried out by the bank using one of the rates:

• Fixed rate;
• Variable This occurs depending on changes in the variable value specified in the loan agreement.

Banks, in most cases, under a loan agreement concluded with a borrower who is an individual, do not have the right to independently reduce the term of the agreement, change the procedure for determining interest on the loan and their amount. In the case of consumer lending, the bank can unilaterally only reduce the interest rate on the loan (if we are talking about structuring the debt of an individual, for example) in accordance with Part 4 of Article 29 of Law No. 395-1; Part 16 of Article 5 of Law No. 353-FZ.

Some banks include in the loan agreement a requirement to take out life and health insurance for the borrower, or insurance of property that serves as collateral for the loan, while the agreement may stipulate that the lender has the right to decide to increase the interest rate on the loan provided, including if the consumer fails to fulfill his insurance obligations for more than 30 calendar days.

However, the amount of increase in the interest rate on an already issued loan in the event of a subsequent one is also specified in the loan agreement and the maximum interest rate will be limited to the amount specified in the loan agreement when issuing the loan, in accordance with Part 11 of Article 7 of Law No. 353-FZ.

Maximum interest rate on loan

Talking about what is the maximum interest rate on a loan that can be set by a credit institution, Attention should be paid to the fact that at the legislative level there is a limitation on the total cost of a consumer loan (FCC), which has a direct impact on the interest rate on it.

By law, a bank cannot draw up a loan agreement in which the interest rate is more than 30% higher than the market average (calculated quarterly by the Bank of Russia). If some significant change in market conditions occurs in the country, the Central Bank may establish one or another period during which the limitation on the maximum rate on consumer loans will not be applied (Part 11, Article 6 of Law No. 353-FZ).

Note! Once a quarter, the Bank of Russia calculates the average market value of the PSK as a weighted average of at least 100 of the largest banks of the Russian Federation for a certain category of loan or for at least one third of the total number of credit institutions that provide a certain category of loan (Part 10 of Art. 6 of Law No. 353-FZ).

The Bank of Russia publishes the average market value of the PSK once a quarter (according to Part 8 of Article 6 of Law No. 353-FZ). For example, for car loans that were concluded in the 2nd quarter of 2019 for the purchase of new vehicles (mileage from 0 to 1000 km), this average market interest rate is 15.768%, and the maximum value of the PSK is 21.024% per annum, provided that the car is in as collateral (Information from the Bank of Russia “On average market values ​​of the full cost of a consumer loan (loan)”).

Maximum interest rate on microloans in microfinance organizations

It’s worth noting right away that the maximum interest rate on microloans in microfinance organizations is very different from interest on loans from regular banks. from January 1, 2017, they can establish a maximum interest rate on short-term loans (up to a year) not exceeding 300%, that is, the overpayment on a microloan should not be three times more than the amount of this microloan. See paragraph 9, part 1, art. 12 of the Law of July 2, 2010 No. 151-FZ:

...to accrue interest to an individual borrower under a consumer loan agreement, the repayment period of the consumer loan for which does not exceed one year, with the exception of penalties (fines, penalties) and payments for services provided to the borrower for a fee, if the amount accrued under the agreement interest will reach three times the loan amount. The condition containing this prohibition must be indicated by the microfinance organization on the first page of the consumer loan agreement, the repayment period of the consumer loan for which does not exceed one year, before the table containing the individual terms of the consumer loan agreement;

This maximum amount of overpayment on a loan does not include costs for additional services and penalties/fines (Federal Law dated July 2, 2010 N 151-FZ “On microfinance activities and microfinance organizations”).

If we talk about consumer loan agreements that MFOs concluded in the second quarter of 2019, then the average market value of the FSC (the full cost of a consumer loan) for a microloan without collateral (with the exception of POS microloans), in the amount of up to 30,000 rubles and for a period of 30 days inclusive, is equal to 599.367% per annum. In this case, the maximum PSC is 799.156% per annum.

The question often arises: at what rate should a loan be given in the amount of PV in order to receive the amount of FV back after a certain period of time?

Using the simple interest formula

Using the compound interest formula

. (1.17)

Example 1.8 The company lent 50,000 rubles to a subsidiary. for a period of 3 years with annual interest accrual. At what percentage should you give a loan to return 60,000 rubles?

Solution.

PV=50,000 rub.

FV=60,000 rub.

r=m·((FV/PV)^(1/(m·k))-1)

r=(6/5)^(1/3)-1=0.06266

r 6,27%

1.3.6 Nominal and effective rates

The annual interest rate r is often called nominal rate as opposed to the interest rate for the period r t/T or 1/m.

To compare the effectiveness of offers from various banks for credit operations, they are recalculated to effective interest rate , providing the same profitability, but with interest calculated once a year. Comparing (1.6) with

,

we get

,

where =
(1.7)

Example 1.9 Let us determine the effective annual rate in the first three cases of Example 1.4.

Solution. Obviously, in the fourth case, with annual interest accrual, it is 12%. For

m = 12 =(1+0,12/12)^12-1=0,1268;

m = 4 =(1+0,12/4)^4-1=0,1255;

m = 2 =(1+0,12/2)^2-1=0,1236.

As you'd expect, compounding monthly provides the highest effective rate.

Replacement in the contract of the nominal rate r with m - one-time interest accrual on the effective one does not change the financial obligations of the parties involved. Both rates are financially equivalent. Generally different nominal rates are equivalent if the corresponding effective rates have the same value.

When preparing contracts, it may be necessary to determine r from given values im. From (1.7) we find

(1.8)

1.4 Tax accrual and interest

In many countries, interest is taxed. Obviously, the interest tax reduces the accrued amount and the bank's real interest rate.

Let the bank interest rate r, the interest tax rate n, the initial amount of the bank deposit PV, the deposit period is specified.

Simple interest

Accrued deposit amount: FV= PV (1+ r) , where FV and PV are taken in absolute value.

Percentage: I= FV-PV= PV r

n=I.·(1- n)=PV ·r·(1- n)

Accrued amount after tax:

FV=PV+I n= PV·. (1.18)

Compound Interest

Increased deposit amount:
.

Percentage: I= FV-PV=
.

Interest after tax: I n=I·(1- n)=
·(1- n).

Accrued amount after tax

FV=PV+I n =
·(1- n)], where

FV=
·(1- n)+n] (1.19)

Example 1.10 The client deposited $1000 into the bank for a year. Bank interest rate is 16%. Interest tax 8%. It is required to determine the tax amount N, percentage and accrued amount in two cases: 1) simple interest; 2) compound interest with monthly interest calculation.

Solution.

I n=?, FV=?

Simple interest

No tax

I=PV r=1000·0.16=$160,

b) With tax

N=PV ·r· n=1000·0.16·0.08=$12.8

I n= PV ·r·(1- n)= 1000·0.16· (1-0.08)=$147.2

You can write down

I n= I- N=160-12.8=$147.2

FV=PV+ I n =1147,2 $

FV=PV+I=$1172.27

Compound interest

a) No tax

I=
=1000*[(1+0,16/12)^12-1]=172,27 $

b) With tax

I n =
. (1- n)= 172,27*(1-0,08)=158,49 $

FV=PV+ I n = $1158.49; N=I-I n =172,27-158,49=13,78 $

Placed in a deposit account.

A bank is an organization whose main income consists of the difference between the price of attracting and placing financial resources. At the same time, the price of money, like any other product from an economic point of view, is determined by supply and demand.

Interest rates on deposits depend on the following main indicators:

• macroeconomic situation. If the economy is booming, then the demand for credit resources is higher. As a result, deposit rates are rising. On the contrary, if the economy enters a recession, then the demand for money decreases: consumer lending decreases, production falls. As a result, banks are forced to reduce interest rates on deposits.

The key indicators when determining rates are the inflation rate and the stability of the national currency. The lower the inflation rate and the more stable the ruble, the lower the interest rate banks can replenish their resources. Destabilization of the situation leads to an increase in interest rates on deposits.

At the same time, the influence is exerted not only by the current situation on the international or domestic market, but also by expectations of changes in the macroeconomics, since financiers take into account the timing of raising and placing funds;

• liquidity and money supply in the country. The shortage of money leads to an increase in the cost of credit resources and, accordingly, high rates on bank deposits. For example, if the state carries out large-scale borrowing on the domestic market, this leads to the so-called sterilization of the money supply, i.e., to a reduction in the supply of money, and, accordingly, to an increase in interest rates on deposits. On the contrary, the issue of money, as well as the provision of loans by the Central Bank to the banking sector, increases supply in the market and reduces rates.

Interest on deposits is significantly affected by the general condition of the financial sector and the liquidity of the banking system. Each commercial bank independently determines who to lend to and for how long. At the same time, situations occur when, at a certain period of time, the financial system as a whole experiences a shortage of funds, which must be returned later when repaying loans. At such moments, interest rates rise;

• government regulation. Despite the fact that the Central Bank and the state as a whole do not have a direct legislative influence on the size of deposit rates, this influence can be indirect. Thus, it is possible to change the refinancing rate, taxation of income received from deposits in credit institutions, and the use of other means of conducting monetary policy.

Regulatory authorities may also take non-economic measures to influence interest rates, for example, initiating inspections of credit institutions that pay too much on deposits;

• microeconomic factors. In addition to general indicators for the country’s economy and the financial sector, the amount of interest on deposits also reflects the situation of each specific bank individually. So, if a credit institution enters, for example, the POS lending market and more and more new clients appear, then it offers a higher interest rate on deposits than under normal conditions. That is, the interest rate on deposits may directly depend on the bank’s ability to increase its loan portfolio and on the demand for resources from clients.

For a credit institution, the size of interest rates is also influenced by its liquidity, i.e., the ratio of the timing of raising funds and the time for which they are placed. In case of insufficient liquidity, and even more so when there is a threat of so-called cash gaps, banks are ready to pay more on deposits.

Thus, the size of deposit rates is determined by a whole range of both external and internal bank components. At the same time, competition between credit institutions leads to a gradual equalization of interest rates. The current situation on the bank rates market can be found in the specialized section “Deposits” of the Banki.ru website.

When calculating the interest payable to the depositor and when comparing the profitability of deposits, it is necessary to take into account the interest payment regime. The frequency of interest payments is determined by the agreement. This may be a lump sum payment at the end of the deposit period when the principal amount is returned. Banks also offer deposits with periodic interest payments - annual, quarterly or monthly. Occasionally there are deposits even with daily interest payments. Periodic payments can be tied either to the date of opening the deposit or to calendar periods - for example, accrual will be made on the first calendar (or first working) day of the month or quarter. In case of periodic payment, the direction of interest payment is important. The interest paid can be sent either to the client’s current or card account (in which case the client is free to dispose of the accrued interest), or by adding it to the principal amount of the deposit. Moreover, in subsequent periods interest will be accrued on the deposit amount increased by the interest paid. The resulting payments on such deposits - with interest capitalization - will be higher in comparison with the option when the calculation occurs once, on the expiration date.

As a rule, upon early termination of a deposit agreement at the initiative of the depositor, the bank recalculates interest based on the demand deposit rate accepted by the bank, or at preferential early termination rates, if such are provided for in the agreement.

Bank interest is nothing more than a fee for using borrowed funds. In civil circulation, the most famous cases of using interest are fees and deposit fees. In both cases, there are two entities in the relationship, one of which is always a banking institution, which, based on certain economic calculation methods, determines the amount of bank interest for a specific type of transaction.

Types of bank interest

In banking practice, there are several types of interest:

• loan (credit),
• deposit,
• discount,
• accounting

Loan interest is the amount that is charged to the borrower for using loan funds. Deposit interest is essentially the same as loan interest, but the borrower in this case is a banking institution that pays you a fee in the form of this same deposit interest for the use of your money.

The discount percentage assumes the amount of discount from any amount in a monetary transaction. The discount rate is the rate determined by the Central Bank at which this institution issues borrowed funds to other banks.

Calculation of bank interest

In financial practice, it is customary to calculate bank interest in annual terms. This means that if the bank indicates that the rate of funds accepted for deposit is, for example, 10% per annum, you receive an amount greater than this 10%, accrued during the year. If you need to calculate how much it will cost per month or per day, simply divide the interest rate by the time period you need. To find out how much you will receive per month, you need to divide 10% by 12 (the number of months in a year). And to calculate the interest per day, you will need to divide the interest rate by 365 (the number of days in a year).

Simple and complex bank interest

Bank interest can be calculated in two ways, called simple and compound interest. In the first case, it is understood that the loan (deposit) amount is always taken as the basis for calculations during the term of the agreement. Compound interest takes into account that in each subsequent period the amount on which interest is calculated increases by the amount of interest received in the previous period.

Traditionally, deposits on which the bank charges compound interest are considered more profitable. The situation with loans is the opposite. Interest is considered beneficial if it is calculated not on the entire loan amount, but on the balance of funds not returned to the bank.

Bank interest rate calculation

Before signing a loan agreement, it is advisable to understand what amounts you will have to pay, so the correct calculation of the bank interest rate is important. Many online banks offer the borrower a calculator for these calculations on their websites, but in reality it is not so easy to use, but it is possible to make an approximate calculation.

Many methods for calculating bank interest rates are complex and require mathematical knowledge. Therefore, we will focus on simpler methods. If you add up all the payments proposed in the list, you can calculate the approximate percentage that will have to be paid for borrowed funds:

1. loan interest;
2. all bank fees (for processing an application, opening, servicing an account, etc.);
3. all life insurance and other services;

To make the correct calculation, you should take into account various circumstances that may arise when using borrowed money, for example, early repayment, penalties, fines and much more.

Some bank clients, on the contrary, entrust their finances to a credit institution for safekeeping. The bank pays interest for this, its size depends on many factors.

Interest rate in brokerage companies

A brokerage company is an intermediary between the seller and the buyer. If previously only banks were engaged in savings operations, now similar services in other institutions are becoming more and more popular. The client's assets in the brokerage office may also be of a savings nature. The broker can use the free funds on the client’s deposit for his own purposes and pay the client for it.

Interest rates at brokerage companies change frequently, so they are calculated daily and deposited at the end of the month. Brokers offer different interest rates. If the client enters into many transactions, then the option with a reduced interest rate will be convenient for him (Commission - 0.015%, SWAP - 1 pip, Interest rate - 3%). A high percentage is important for strategic investors, since deals are rarely concluded (Commission - 0.03%, SWAP - 0 pip, Interest rate - 6%.). The client must complete at least one transaction in order for the interest rate in brokerage companies to begin to be credited to the deposit.

When lending, there are several features of bank interest

The borrower pays an interest rate to the credit institution; today, when lending, there are several features of bank interest:

1. loan (receipt of profit by the bank from the client for the use of money);
2. deposit (paid by the bank to the client for the opportunity to use his money);
3. discount rate (the Central Bank rate at which loans are issued to other banks);
4. discount (% for risks associated with issuing a loan).

Each of them is intended for specific functions: savings, regulatory and redistribution. The calculation of a bank's interest rate is influenced by many different factors.

What determines the size of bank interest?

Currently, there is a single formula for calculating the interest rate on a deposit account. It is necessary to understand what the size of the bank interest depends on and take into account that various factors can adjust it:

M = D * (1 + r/100* t/360).

M - the amount received by the client at the end of the investment period;

D - deposit amount;

r - bank interest rate;

t is the number of days for which the client entrusts his finances to the bank.

In the financial world, it is believed that each month has 30 days.

Example: deposit 100,000 rubles in the bank at 3% per annum for a period of 6 months.

100000 * (1 + 3%/100 * 180/360) = 100000 * (1+ 0,03 * 0,5) = 100000 * 1,015= 101500

The proposed formula is only suitable for interest on which is calculated once a year. If interest on the deposit is credited several times a year, for example, every month, then you will have to calculate interest using a complex banking formula:

M = D * (1 + r/100*30/360)^(360/30).

Types of banking risks

The types of risks of financial institutions are divided into general and banking; it is quite difficult to distinguish between them. In the process of operation, an enterprise faces various problems. In specialized literature, types of banking risks are grouped by financial transactions:

1. banking risk (this includes risks associated with the activities of the bank and general ones, depending on external influences);
2. credit risk (arises due to overdue debts of clients or enterprises receiving loans from the bank);
3. currency risk (associated with changes in exchange rates);
4. interest rate risk (fluctuations in interest rates force the bank to pay higher interest rates for using money or receive less income from loans provided);

There are risks in any enterprise, so it is important for a bank not to avoid them, but to anticipate them and, as a result, reduce the threat to a minimum.