The article discusses the main provisions of the 34th Chapter of the Tax Code of the Russian Federation “Insurance Contributions” active from January 1, 2017, which replaced the Law on Insurance Contributions No. 212-FZ. The fundamental moments in the field of taxation of insurance fees with payments to employees, the tariffs of insurance premiums and the basis for their calculation, the revised list of preferential categories and reduced rates of insurance fees in 2020 are analyzed. The features of accounting in budgetary organizations are described.