Unemployment - 1.70%
Contribution Against Injury at Work - 0.50%
5.00% - Individual Captial (Pillar 2)
24.00% - Up to 210,000
36.00% - Over 210,000
Minimum wage is 462.30EUR ($514.99) monthly
Salaries are paid on monthly basis, no later than the 15th of the following month.
Fulltime employment is considered 40 hours weekly - however can be extended to 50, and if agreed to in a collective agreement up to 60. *Unequal working hours schedule: allows employers to alter schedule according to needs, this can be for between 1 month - 1 year.
Employees generally cannot work more than 180 hours overtime annually (unless agred to in collective agreement in which case the maximum is 250 hours).
Contributions consist of pension contributions at a rate of 20% from the gross salary, and a health and employment contribution at the rate of 17.2% from the gross salary.
Employees contribute 20% of their wages which is withheld by the employer, with contribution ceiling of 5,066EUR per month.
Maternity leave is 28 days before the expected date of birth and can be taken until a child reaches the age of six months.
During the calendar year, an employee is entitled to fully paid leave (for a maximum of seven days per year unless otherwise specified) for important personal needs, particularly in relation to marriage, birth of a child, serious illness or death in the immediate family.
Parents are entitled to parental leave once a child reaches the age of six months. Parents can exercise the right to parental leave until a child reaches the age of eight years. Parental leave is an individual entitlement. Its length (for one parent) ranges from four months (first and second born child) to fifteen months (for twins, other multiple births and third and every subsequent period). The family entitlement ranges from eight months to thirty months. Parental leave can be used in whole or in parts. Parental leave can be taken in the three following ways: fully (in one go); partially (up to two times in a year with each part lasting for at least 30 days); and part-time (duration is doubled and compensation is 50% of the compensation that is paid for full time leave). Although parental leave is a personal right, however one parent can transfer their entitlement to the other parent if both parents agree and give written consent.
Employers can terminate a fix term contract by giving the following reasons - business, personal or worker's’ misconduct. If it is an open ended agreement, employer can terminate the employee without a reason.
The length of advance notice varies from company to company depending on the initial agreement between the employer and employee.
Employees of the same company for more than 2 years are entitled to a severance pay calculated by the number of years employee has been employed in the company. The minimum amount is one third of the average monthly salary earned during the last three months prior to termination. The severance pay can be maximum of six months average monthly salary.
25% standard rate.