2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
In some life situations, citizens of the Russian Federation have the right to receive material assistance from the state or organization in which they work, study or are registered. Almost every institution in the country provides for such an item in the budget for spending money. At the same time, entering into a legal marriage, taking another vacation, having a child are also associated with such a concept as material assistance. The provision of this type of financial support is specified in the documents of the organization (as a rule, this is a collective agreement or a regulation on remuneration), some points of the legislation also speak about this.
Material assistance transferred to a current or former employee, his relative, has its own specifics of formation. A person who wants to receive financial support from his organization must provide the manager with a statement drawn up in accordance with all the rules, in which he must indicate the reasons that prompted him to seek help.
At the same time, the employee must also provide copies of documentswhich are the basis for the issuance of financial support. Such papers include a birth or marriage certificate, the death of a close relative, medical certificates and other documents.
Material assistance is transferred to the employee's account or paid directly from the cash desk only after consideration of this issue by the management of the organization. In this case, a positive response is issued in the form of an order for the company. State organizations have the right to use for payments of this kind the funds received from the conduct of their main economic activities, as well as various subsidies and budgetary funds received from the state.
Students enrolled in full-time education in federal institutions of higher and secondary specialized education also have the opportunity to apply to the leadership of their college or university for financial assistance. The budget of such institutions provides for the availability of additional funds for payments of this kind. Financial assistance in such institutions is paid from the scholarship fund, which contains 25% more money than is necessary for the payment of scholarships. It is this excess balance that is the source of additional financial assistance.
Natural disasters, emergencies, loss of a breadwinner, retirement, birth or adoption of a child, low income, terrorist attacks - all this isgrounds for receiving such payment as material assistance. There is no taxation on these items. Other reasons that also qualify for cash support are taxable.
Of course, any organization keeps records of such transactions. At the same time, there are special accounting entries for its registration. Financial assistance may be associated with the following correspondence of accounts (if payments are made from retained earnings):
Dt/84 - Kt/70 - accrual of material assistance;
Dt/84 - Kt/69 - calculation of insurance premiums;
Dt/70 – Ct/68 – personal income tax withholding (if this type of assistance is taxable);
Dt/70 - Kt/50 - payment of cash support from the cash desk.
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