Overview

Capital
Belgrade
Currency
Serbian Dinar (RSD)
Date Format
dd/mm/yyyy

Taxes

Employer

Employer Payroll Tax

11.5%
Pension and disability
5.15%
Health insurance
16.65% Total Employment Cost
Employee

Employee Payroll Taxes

14%
Pension and disability
5.15%
Health insurance
0.75%
Unemployment insurance
19.9% Total Employee Cost
Employer Taxes
3 HIGHEST
3 LOWEST
China
Brazil
Belarus
Serbia
South Africa
Georgia
Macedonia
41.12%
36.8%
34%
16.65%
2%
2%
0%
Employee taxes
3 HIGHEST
3 LOWEST
Romania
Macedonia
Netherlands
Serbia
Georgia
Belarus
Ukraine
45%
28%
27.65%
19.9%
2%
1%
0%

Minimum Wage

General

The minimum wage is 32,126 RSD a month.

Minimum wage (per month)
$4000
$2663
$2491
$335
$36.80
$22
$2.33
Geneva
Luxembourg
Australia
Serbia
Angola
Uzbekistan
Venezuela
3 HIGHEST
3 LOWEST

Payroll

Payroll Cycle

The payroll cycle is monthly.

13th Salary

There is no 13th salary.

Working Hours

General

A work week is 40 hours for five days of 8 hours each.

Overtime

Overtime is work over 8 hours per day or 40 hours a week. Overtime is limited to 8 hours per week and 4 hours per day and paid at 126% of regular salary.

Leave

Paid Time Off

Employees get 20 days of paid vacation each year.

Vacation days
Public holidays
3 HIGHEST
3 LOWEST
Brazil
Peru
Georgia
Serbia
Malaysia
China
Federal
30
13
43
30
12
42
24
17
41
20
11
31
8
6
14
5
7
12
10
10
Public Holidays

There are 12 public holidays.

Sick Days

Paid sick leave is unlimited as long as needed, with a certificate from a physician filed with the health insurance authority. During the first 30 days, employees receive 65% of salary if sickness/injury not related to work, and 100% if it was work-related. After 30 days, payment comes from the state, not the employer. 

Maternity Leave

Combined pregnancy/maternity leave goes for 365 days.

PAID MATERNITY LEAVE (DAYS)
410
365
365
365
45
30
0
Bulgaria
Serbia
Albania
Serbia
United Arab Emirates
Tunisia
Federal
3 HIGHEST
3 LOWEST
Paternity Leave

No specific paternity leave but under certain circumstances, the father could use maternity leave if mother unable to care for the baby during that period.        

Termination

Termination Process

Employers must provide an explanation in writing and at least 8 days’ notice if the termination is based on performance. The explanation must include the reason for dismissal, evidence, and an opportunity for the employee to respond. Failure to follow the procedure could result in a court invalidating the dismissal.

Notice Period

The employer must give at least 8 days. An employee terminating the employment must give 15 days.  

In the event of layoffs, a notice period of 30 days is required.

Severance Pay

In the case of layoffs, a severance payment of at least 1/3 of regular salary for each year worked is required.

Probation Period

Not more than 6 months, during which either party could end the relationship with five days’ notice

VAT

General

VAT is 20% standard rate.

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