With effect from 1 October 2022, Ukraine's minimum monthly wage will be increased from UAH 6,500 per month to UAH 6,700 per month. As previously reported, the increase was scheduled as part of the Law on the State Budget for 2022 (Law 1928-IX). For employers, the minimum wage value is important as it serves as the basis for determining the monthly social security contribution cap, which is equal to 15 times the minimum monthly wage, or UAH 100,500 considering the UAH 6,700 minimum wage from October 2022.