Law of Ukraine
"On Restructuring the Arrears in Payments Provided for by Article 57 of the Law of Ukraine "On Education" to Educational, Educational and Research, and other Categories of Educational Institution Employees"
Date of entry into force:
October 2, 2004
The Law establishes and regulates the legal relations that have arisen due to lack of budget financing of disbursements envisaged by Article 57 of the Law of Ukraine "On Education".
According to Article 3 of the Law, satisfaction of accounts payable is done exclusively in the monetary form, with the funds of the State Budget of Ukraine.
The funds used for satisfaction of accounts payable are specified as a separate item in the State Budget of Ukraine.
Accounts payable to employees are satisfied on a monthly basis, together with the payment of the main salary. Retired employees receive compensation of accounts payable for the actual time spent working, and the amount of compensation is included in the retirement benefits (Article 5 of the Law).
Article 5-1 of the Law envisages that the only accrual on the accounts payable of the State Budget of Ukraine for payment of seniority pay and health care assistance provided for annual leave shall be premiums for mandatory state pension insurance.