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Good to know
Slovakia boasts the world’s most recently constructed and precise astronomical clock. Completed in 2009, the Stará Bystrica Astronomical Clock utilizes satellite-controlled software to exhibit accurate solar time, making it widely regarded as the most precise astronomical clock globally.
Currency
Euro (EUR)
Capital
Bratislava
Employee Costs
13.40%
Local Language
Slovak
Employer Taxes
35.20%
Public Holidays
15 Days
Payroll Frequency
Monthly
Tax Year
1st Jan – 31st Dec
Are you ready to hire in Slovakia?
Slovakia has a well-educated and skilled workforce, particularly in engineering, manufacturing, IT, and other technical fields. The country’s strong education system produces professionals with expertise in various sectors. The labour costs in Slovakia are generally lower compared to many Western European countries, making it an attractive location for cost-effective hiring, especially for manufacturing and service industries.
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Minimum Wage
The national minimum wage in Slovakia is 700.00 EUR per month.
Working Hours
Standard Working Hours
A standard work week is 40 hours, at 8 hours per day. The standard working week is Monday – Friday.
Overtime
Any work extending beyond the standard weekly working hours is subject to overtime pay and is governed by employment contracts or collective agreements. When an employee is called upon to work extra hours or on holidays, there exist limits on the number of hours permissible. For hours beyond the 40-hour weekly threshold, remuneration is calculated at an overtime compensation rate equivalent to 125% of the employee’s average salary rate. In instances of night-time hours, overtime warrants a payment rate of 140% of the employee’s regular salary rate. Hours dedicated to Saturday labour are compensated at a rate of 150% of the standard salary rate, while Sunday overtime commands a remuneration rate of 200% of the standard salary rate.
Payroll
The payroll frequency in Slovakia is monthly. There is not a requirement for a 13th monthly payment, however employers may offer bonuses.
Leave
Paid time off
The annual leave entitlement differs depending on the employees length of service and the job sector. Employees under 33 years of age are entitled to 20 working days annual leave and for employees over 33 years of age are entitled to 5 weeks. Teachers and other specific professions are entitled to 8 weeks annual leave in total. Unused leave can be carried over to the following year, but they need to be used within that following year or they will be lost.
Sick Pay
For the initial three days of sickness, the employer provides compensation at 25% of the employees standard pay rate, and from the 4 to the 10th day of sickness, compensation is set at 55% of the employee’s standard salary. Starting from the 11th day of sickness, the Social Insurance Agency offers compensation at 55% of the employee’s standard salary. It’s important to note that sick leave requires a medical certificate from a medical professional.
Maternity Leave
Female employees are entitled to 37 weeks of maternity leave with full payment, commencing as early as 8 weeks before childbirth, equivalent to 75% of their regular wages.
Paternity Leave
Partners of postpartum employees must be given a paid parental leave that extends until the end of the mother’s leave period as required by employers.
Termination
Termination of Employment
The procedure for termination differs based on the existing employment agreement or Collective Agreement and is dependent on the contract type and grounds for termination. Employees can be dismissed for valid reasons, including redundancy, dishonesty, negligence, fraud, or work-related misconduct. Such terminations may occur either with advance notice given or within the probationary period.
Notice Period
In Slovakia, the length of notice periods is dependent upon an employees service period with the employer. As per Slovak labour legislation, the employer is required to provide the subsequent notice periods:
– 1 month for employees with less than 1 year of service.
– 2 months for employees with a service duration of at least 1 year but less than 5 years.
– 3 months for employees who have served for a minimum of 5 years.
Probation Period
An employment contract can specify a probationary period of 3 months, or 6 when hiring for managerial positions.
Visa
Foreigners intending to work in Italy must obtain a work visa, a national visa, or a D-Visa, which permits entry into Italy within eight days of arrival. However, to remain in Italy, an additional authorization is necessary, known as a residence permit or “permesso di soggiorno.”.
The prospective employer is required to submit all visa applications through a Nulla Osta document at the Immigration Office (Sportello Unico d’Immigrazione – SUI) in the province where the company is located.
The Italian government issues a limited number of approved work permits and accepts work permit applications periodically, typically for a few months every one or two years, depending on Italy’s job market conditions at that time (referred to as “Decreto Flussi”).
VAT
The standard rate of VAT in Italy is 22.00%.
