Find out the value of the INSS DISCOUNT on your salary in 2024; Brazilians are shocked

Every month, working Brazilians must contribute to the institute through specific payments. Therefore, it is important to know the value of the INSS discount each year.

Did you know that INSS discount rates in 2024 vary depending on the salary range? This information is essential to understand the value of the INSS discount on your salary.

It is important that you understand in detail how to calculate this discount and understand the new INSS contribution ranges. Check out how to perform the calculation!

The value of the INSS discount varies every year. See what amount is set in 2024! / Credit: @jeanedeoliveirafotografia /

What is the value of the INSS discount?

Firstly, the INSS discount, or National Social Security Institute, is the mandatory contribution that the worker makes to guarantee their social security rights, such as retirement and various benefits.

In other words, it is through these contributions that you, as a worker today, can guarantee a comfortable payment when you are no longer able to work.

New INSS contribution ranges in 2024

Since January 2024, INSS rate policies follow an updated table, which considers different contribution salary ranges.

Discover the ranges and understand how they impact the value of the INSS discount on your monthly salary:

Contribution up to R$ 1,412.00 generates a rate of 7.5% with nothing to deduct; Contribution from R$ 1,412.01 to R$ 2,666.68 generates a rate of 9.0% and deduction of 21.18; Contribution of R$ 2,666.69 up to R$ 4,000.03 generates a rate of 12.0% and deduction of 101.18; Contribution of R$ 4,000.04 up to R$ 7,786.02 generates a rate of 14.0% and deduction of 181.18.

Find out more: EXCLUSIVE benefit for seniors without contributions to the INSS; earn up to R$1.4 THOUSAND

How to calculate the value of the INSS discount in 2024?

Furthermore, the new way of calculating the INSS discount brought some changes compared to previous years.

Find out how this calculation is carried out and discover how progressive rates affect the final value of the discount on your salary.

Performing the calculation

The current way of calculating the INSS discount, implemented since 2020, has brought a significant change, generally resulting in a reduction in the worker’s deducted amount compared to the method previously used, including 2019 and previous years.

Previously, the calculation was carried out only on the percentage of the salary range, without considering different contribution ranges.

For example, a salary of R$3,000.00 in 2019 would result in a direct discount of 11%, totaling R$330.00. However, in 2024, the INSS calculation is carried out in more detail, considering different salary ranges.

Understand the value of the INSS discount in practice

Using the same salary as an example, the calculation is done as follows:

For the first salary range of up to R$1,412.00, a rate of 7.5% applies, resulting in a discount of R$105.90; For the second salary range, which goes from R$1,412.01 to R$ 2,666.68, a rate of 9% applies, resulting in a discount of R$ 112.92; For the range that reaches a salary of R$ 3,000.00, a rate of 12% applies, resulting at a discount of R$39.99;The total to be collected is the sum of these amounts, totaling R$258.81.

Furthermore, if the professional is not yet a taxpayer, but is looking for alternatives to guarantee long-term benefits, considering hiring a consultancy company for social security calculations may be an option.

These companies can assist in the appropriate planning of monthly contributions, aiming to obtain the best possible benefit in the future.

Understanding your rights

In short, the INSS discount is an essential part of Brazilian workers’ remuneration, guaranteeing financial security for the future.

Understanding how this discount is calculated and knowing the new rates in 2024 is essential for planning your finances and guaranteeing your social security rights.

Stay on top of the information and make conscious and informed financial choices.

See more: INSS has a new deadline for carrying out the proof of life in 2024

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