11% - Invalidity, Old Age and Death Insurance Premium
7.5% - General Health Insurance
2% - Unemployment Insurance
5% - General Health Insurance
1% - Insurance BranchestEmployeeu2019s Allocation (%)tEmployeru2019s Allocation (%)tTotal Allocation (%) Short Term Insurance Branch Premiumtu2013t2t2 Invalidity, Old Age and Death Insurance Premiumt9t11t20 General Health Insurancet5t7,5t12,5 Unemployment Insurance
Minimum wage is 424EUR per month.
Employer: contributes 11% of the employees salary
Employee: contributes 9% of their wages
There are 14.5 public holidays per year.
The employer must provide two weeks notice to the employees who have been working less than 6 months. If they have been working between six to eighteen months, the employer must provide four weeks’ notice. Between eighteen months up to three years, the employer must provide six weeks’ notice. From three years and on, the employer must provide eight weeks’ notice.
The length of the notice varies from company to company. On average employers require one month notice.
The severance pay amount is calculated by employees average monthly salary multiplied by number of the years the employee has been in the company.
VAT is 18% standard rate.